FORA Capital LLC Buys Shares of 7,252 Cencora, Inc. (NYSE:COR)

FORA Capital LLC acquired a new position in Cencora, Inc. (NYSE:COR) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 7,252 shares of the company’s stock, valued at approximately $1,632,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of COR. Kennedy Capital Management LLC bought a new stake in shares of Cencora in the 1st quarter worth $705,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cencora in the 1st quarter worth $2,194,000. Ancora Advisors LLC bought a new stake in shares of Cencora in the 1st quarter worth $867,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Cencora in the 1st quarter worth $411,000. Finally, Tidal Investments LLC bought a new stake in shares of Cencora in the 1st quarter worth $3,442,000. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Performance

Shares of COR stock opened at $249.70 on Thursday. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a market capitalization of $49.20 billion, a price-to-earnings ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44. The stock’s fifty day simple moving average is $233.98 and its 200-day simple moving average is $232.14.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.88%. Cencora’s payout ratio is currently 29.29%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated 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 transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. The trade was a 7.02 % 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. Insiders have sold 93,018 shares of company stock worth $22,478,942 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COR has been the topic of a number of research reports. Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average price target of $271.20.

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.