Advisors Capital Management LLC Has $565,000 Stock Position in Cencora, Inc. (NYSE:COR)

Advisors Capital Management LLC grew its holdings in Cencora, Inc. (NYSE:COR) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,514 shares of the company’s stock after purchasing an additional 51 shares during the period. Advisors Capital Management LLC’s holdings in Cencora were worth $565,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Cencora in the 4th quarter valued at $478,309,000. Raymond James Financial Inc. acquired a new stake in shares of Cencora in the fourth quarter valued at about $322,460,000. Invesco Ltd. raised its holdings in Cencora by 20.4% during the fourth quarter. Invesco Ltd. now owns 3,243,531 shares of the company’s stock worth $728,757,000 after acquiring an additional 550,246 shares in the last quarter. Renaissance Technologies LLC boosted its position in Cencora by 140.6% during the fourth quarter. Renaissance Technologies LLC now owns 550,700 shares of the company’s stock valued at $123,731,000 after purchasing an additional 321,800 shares during the last quarter. Finally, Amundi grew its stake in Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after purchasing an additional 314,846 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on COR. Bank of America boosted their target price on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. Wells Fargo & Company upped their price objective on Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. increased their price objective 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, Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $284.20.

Cencora Stock Performance

NYSE:COR opened at $284.40 on Wednesday. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $296.65. The company has a market cap of $55.15 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 1.31 and a beta of 0.55. The stock has a fifty day moving average price of $261.65 and a 200-day moving average price of $245.84.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.77%. Cencora’s payout ratio is currently 31.29%.

Insider Activity at Cencora

In other news, CAO Lazarus Krikorian sold 2,000 shares of Cencora stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now directly owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is owned by insiders.

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.