Schear Investment Advisers LLC Acquires 129 Shares of Cencora, Inc. (NYSE:COR)

Schear Investment Advisers LLC increased its position in Cencora, Inc. (NYSE:COR) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,088 shares of the company’s stock after buying an additional 129 shares during the quarter. Schear Investment Advisers LLC’s holdings in Cencora were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in Cencora in the 2nd quarter worth approximately $26,000. TFO Wealth Partners LLC bought a new stake in Cencora in the 1st quarter worth approximately $30,000. LRI Investments LLC bought a new stake in Cencora in the 1st quarter worth approximately $31,000. MFA Wealth Advisors LLC bought a new stake in Cencora in the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners bought a new stake in Cencora in the third quarter valued at approximately $30,000. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

COR has been the subject of several recent research reports. UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Barclays boosted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Three 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 presently has an average rating of “Moderate Buy” and an average target price of $271.20.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.80% of the stock is owned by insiders.

Cencora Price Performance

Shares of COR stock opened at $240.24 on Friday. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. The business’s fifty day moving average is $232.62 and its 200 day moving average is $231.03. Cencora, Inc. has a twelve month low of $194.23 and a twelve month high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.92%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is presently 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.