Latitude Advisors LLC Buys New Shares in Cencora, Inc. (NYSE:COR)

Latitude Advisors LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,487 shares of the company’s stock, valued at approximately $559,000.

Several other large investors have also added to or reduced their stakes in the company. Concord Wealth Partners acquired a new position in Cencora in the 3rd quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Cencora by 85.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Cencora during the third quarter valued at $41,000. Modus Advisors LLC acquired a new stake in Cencora during the 4th quarter worth about $54,000. Finally, Carolina Wealth Advisors LLC lifted its holdings in shares of Cencora by 366.7% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 266 shares of the company’s stock valued at $60,000 after buying an additional 209 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 0.7 %

Shares of COR stock opened at $246.25 on Tuesday. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $262.26. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.53 and a current ratio of 0.92. The stock’s fifty day moving average is $238.94 and its two-hundred day moving average is $236.90. The firm has a market capitalization of $47.59 billion, a P/E ratio of 35.03, a PEG ratio of 1.49 and a beta of 0.49.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Research analysts expect that Cencora, Inc. will post 15.36 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. Cencora’s payout ratio is 31.29%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on COR shares. Wells Fargo & Company upped their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Robert W. Baird raised their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Finally, Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora 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 sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,187 shares of company stock valued at $17,790,912. Insiders own 10.80% of the company’s stock.

Cencora Company 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.