ProVise Management Group LLC Has $643,000 Stock Position in Cencora, Inc. (NYSE:COR)

ProVise Management Group LLC lowered its position in shares of Cencora, Inc. (NYSE:COR) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,862 shares of the company’s stock after selling 368 shares during the quarter. ProVise Management Group LLC’s holdings in Cencora were worth $643,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Xponance Inc. increased its position in shares of Cencora by 9.2% during the 4th quarter. Xponance Inc. now owns 68,295 shares of the company’s stock worth $15,345,000 after purchasing an additional 5,758 shares in the last quarter. Boston Partners increased its position in Cencora by 2.6% in the 4th quarter. Boston Partners now owns 5,007,100 shares of the company’s stock valued at $1,128,058,000 after acquiring an additional 125,611 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Cencora in the 4th quarter valued at about $6,279,000. Evoke Wealth LLC increased its position in Cencora by 12.3% in the 4th quarter. Evoke Wealth LLC now owns 2,075 shares of the company’s stock valued at $466,000 after acquiring an additional 228 shares in the last quarter. Finally, Cozad Asset Management Inc. increased its position in Cencora by 64.1% in the 4th quarter. Cozad Asset Management Inc. now owns 3,815 shares of the company’s stock valued at $857,000 after acquiring an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Up 0.7 %

Cencora stock opened at $266.10 on Thursday. The company’s 50 day simple moving average is $249.41 and its 200 day simple moving average is $239.67. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $270.94. The firm has a market capitalization of $51.60 billion, a price-to-earnings ratio of 37.85, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, sell-side analysts anticipate that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of Cencora stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total transaction of $1,267,350.00. Following the completion of the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. The trade was a 8.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Evercore ISI raised their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company lifted their price target on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.20.

About Cencora

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.