MGB Wealth Management LLC Boosts Stock Holdings in Cencora, Inc. (NYSE:COR)

MGB Wealth Management LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,635 shares of the company’s stock after purchasing an additional 735 shares during the period. MGB Wealth Management LLC’s holdings in Cencora were worth $1,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in COR. Boston Partners bought a new position in Cencora during the first quarter valued at approximately $1,001,269,000. Pacer Advisors Inc. lifted its position in Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after purchasing an additional 2,035,679 shares during the period. Janus Henderson Group PLC bought a new position in Cencora during the first quarter valued at approximately $223,970,000. DekaBank Deutsche Girozentrale bought a new position in Cencora during the first quarter valued at approximately $128,825,000. Finally, Bank of Montreal Can lifted its position in Cencora by 136.8% during the second quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock valued at $153,623,000 after purchasing an additional 370,841 shares during the period. 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 restated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays increased their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. UBS Group increased their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Leerink Partners decreased their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 15.80% of the company’s stock.

Cencora Stock Down 0.3 %

Shares of COR stock opened at $245.02 on Friday. The company has a market capitalization of $48.28 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56. The company’s fifty day moving average price is $233.22 and its 200-day moving average price is $231.62. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. This is an increase 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 (DPR) is presently 29.29%.

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.