Range Financial Group LLC Acquires 6,669 Shares of Cencora, Inc. (NYSE:COR)

Range Financial Group LLC grew its position in shares of Cencora, Inc. (NYSE:COR) by 272.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,114 shares of the company’s stock after acquiring an additional 6,669 shares during the quarter. Cencora comprises approximately 0.9% of Range Financial Group LLC’s holdings, making the stock its 27th largest holding. Range Financial Group LLC’s holdings in Cencora were worth $2,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC boosted its position in shares of Cencora by 10.1% during the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after acquiring an additional 3,610 shares during the last quarter. Portfolio Design Labs LLC purchased a new stake in Cencora during the 3rd quarter valued at $1,404,000. Mackenzie Financial Corp raised its holdings in Cencora by 9.9% during the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after buying an additional 7,266 shares during the period. Premier Fund Managers Ltd purchased a new stake in Cencora during the 3rd quarter valued at $8,982,000. Finally, Unigestion Holding SA raised its holdings in Cencora by 31.9% during the 3rd quarter. Unigestion Holding SA now owns 149,989 shares of the company’s stock valued at $33,749,000 after buying an additional 36,275 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was 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 sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Bank of America restated a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Robert W. Baird increased their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $275.60.

Cencora Stock Up 2.1 %

COR stock traded up $4.90 during trading on Tuesday, reaching $233.78. 1,730,836 shares of the company traded hands, compared to its average volume of 1,297,911. Cencora, Inc. has a 12 month low of $208.58 and a 12 month high of $253.27. The business has a 50 day simple moving average of $237.34 and a 200 day simple moving average of $233.53. The company has a market capitalization of $45.18 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.54 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.