Parallel Advisors LLC Raises Position in Cencora, Inc. (NYSE:COR)

Parallel Advisors LLC grew its position in Cencora, Inc. (NYSE:COR) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,265 shares of the company’s stock after buying an additional 317 shares during the period. Parallel Advisors LLC’s holdings in Cencora were worth $1,183,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. JFS Wealth Advisors LLC grew its stake in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 46 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Cencora in the fourth quarter worth approximately $30,000. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the period. Kentucky Trust Co bought a new stake in shares of Cencora in the fourth quarter worth approximately $33,000. Finally, WASHINGTON TRUST Co grew its stake in shares of Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after acquiring an additional 46 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is currently owned by corporate insiders.

Cencora Stock Performance

COR opened at $266.10 on Thursday. The firm has a market cap of $51.60 billion, a P/E ratio of 37.85, a PEG ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $270.94. The company has a 50 day simple moving average of $249.41 and a two-hundred day simple moving average of $239.67. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

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%. Equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio (DPR) is presently 31.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COR. Evercore ISI lifted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their target price on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.20.

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.