Range Financial Group LLC Increases Stake in Cencora, Inc. (NYSE:COR)

Range Financial Group LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 272.8% in the 4th quarter, Holdings Channel reports. The fund owned 9,114 shares of the company’s stock after buying an additional 6,669 shares during the period. Cencora makes up 0.9% of Range Financial Group LLC’s investment portfolio, making the stock its 27th largest position. Range Financial Group LLC’s holdings in Cencora were worth $2,048,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC raised its position in Cencora by 10.1% during the third quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in Cencora during the third quarter valued at approximately $1,404,000. Mackenzie Financial Corp raised its position in Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after acquiring an additional 7,266 shares in the last quarter. Premier Fund Managers Ltd purchased a new position in Cencora during the third quarter valued at approximately $8,982,000. Finally, Unigestion Holding SA increased its position in shares of Cencora by 31.9% in the third quarter. Unigestion Holding SA now owns 149,989 shares of the company’s stock valued at $33,749,000 after buying an additional 36,275 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 2.1 %

COR traded up $4.90 during mid-day trading on Tuesday, hitting $233.78. 1,730,836 shares of the stock were exchanged, compared to its average volume of 1,297,911. The firm’s fifty day moving average is $237.34 and its two-hundred day moving average is $233.53. Cencora, Inc. has a 1-year low of $208.58 and a 1-year high of $253.27. 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 cap of $45.18 billion, a PE ratio of 31.13, a PEG ratio of 1.54 and a beta of 0.49.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.94%. Cencora’s dividend payout ratio is presently 29.29%.

Insider Buying and Selling

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the sale, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven H. Collis sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,696 shares of company stock valued at $22,862,734. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

COR has been the subject of a number of recent analyst reports. 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. Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company cut their price objective on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, Bank of America restated a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $275.60.

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.