Ballentine Partners LLC Has $2 Million Position in Cencora, Inc. (NYSE:COR)

Ballentine Partners LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,880 shares of the company’s stock after purchasing an additional 352 shares during the quarter. Ballentine Partners LLC’s holdings in Cencora were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Lake Street Advisors Group LLC lifted its stake in shares of Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after purchasing an additional 43 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares during the period. J.W. Cole Advisors Inc. lifted its stake in shares of Cencora by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after purchasing an additional 48 shares during the period. Finally, Impact Partnership Wealth LLC lifted its stake in shares of Cencora by 2.6% in the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company’s stock valued at $460,000 after purchasing an additional 51 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COR. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company dropped their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, December 13th. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird upped their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average price target of $275.60.

Cencora Stock Performance

Shares of COR opened at $245.21 on Wednesday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The stock has a 50 day moving average price of $237.38 and a two-hundred day moving average price of $234.15. The firm has a market capitalization of $47.39 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.51 and a beta of 0.49. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $253.27.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio is currently 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now directly 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 legal filing with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly 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. Insiders sold a total of 73,187 shares of company stock valued at $17,790,912 over the last three months. Corporate insiders own 15.80% of the company’s stock.

About Cencora

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.