WCG Wealth Advisors LLC purchased a new stake in shares of Cencora, Inc. (NYSE:COR – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,015 shares of the company’s stock, valued at approximately $8,449,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vestcor Inc lifted its stake in shares of Cencora by 0.5% in the 3rd quarter. Vestcor Inc now owns 5,196 shares of the company’s stock valued at $1,624,000 after purchasing an additional 28 shares during the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Cencora by 30.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 125 shares of the company’s stock worth $42,000 after buying an additional 29 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Cencora by 0.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,527 shares of the company’s stock worth $2,205,000 after buying an additional 30 shares during the period. Accent Capital Management LLC raised its holdings in shares of Cencora by 36.1% in the fourth quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after buying an additional 30 shares during the period. Finally, CYBER HORNET ETFs LLC raised its holdings in shares of Cencora by 6.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock worth $164,000 after buying an additional 31 shares during the period. 97.52% of the stock is owned by institutional investors.
Cencora Stock Down 0.2%
Cencora stock opened at $264.40 on Thursday. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.22 and a beta of 0.59. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54. The business has a fifty day moving average price of $294.84 and a 200-day moving average price of $331.59.
Cencora Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. Cencora’s dividend payout ratio (DPR) is presently 18.40%.
Cencora announced that its board has authorized a share buyback program on Thursday, May 21st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Citigroup reduced their price target on Cencora from $405.00 to $355.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Leerink Partners reiterated an “outperform” rating on shares of Cencora in a report on Tuesday, March 17th. Robert W. Baird reduced their price target on Cencora from $420.00 to $339.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. UBS Group increased their price target on Cencora from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Morgan Stanley set a $342.00 price objective on Cencora in a report on Friday, May 8th. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.25.
Read Our Latest Stock Report on COR
About Cencora
Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.
Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.
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