SteelPeak Wealth LLC Reduces Stake in Cencora, Inc. (NYSE:COR)

SteelPeak Wealth LLC lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 87.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,065 shares of the company’s stock after selling 7,529 shares during the quarter. SteelPeak Wealth LLC’s holdings in Cencora were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of COR. Concord Wealth Partners purchased a new position in Cencora during the third quarter valued at approximately $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Cencora by 85.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Cencora during the 3rd quarter valued at $41,000. Modus Advisors LLC bought a new position in shares of Cencora in the fourth quarter worth $54,000. Finally, Carolina Wealth Advisors LLC raised its position in shares of Cencora by 366.7% in the third quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock worth $60,000 after buying an additional 209 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock worth $17,790,912 in the last quarter. Corporate insiders own 10.80% of the company’s stock.

Cencora Stock Performance

Cencora stock opened at $254.11 on Friday. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $261.25. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The company has a market capitalization of $49.11 billion, a P/E ratio of 33.84, a PEG ratio of 1.61 and a beta of 0.49. The stock’s 50 day moving average is $238.74 and its 200 day moving average is $235.83.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays increased their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.40.

Cencora Profile

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.