First Business Financial Services Inc. Increases Stock Position in Cencora, Inc. (NYSE:COR)

First Business Financial Services Inc. boosted its holdings in Cencora, Inc. (NYSE:COR) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,255 shares of the company’s stock after buying an additional 537 shares during the period. Cencora makes up 0.3% of First Business Financial Services Inc.’s investment portfolio, making the stock its 27th biggest holding. First Business Financial Services Inc.’s holdings in Cencora were worth $2,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of COR. Lake Street Advisors Group LLC lifted its holdings in Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after purchasing an additional 43 shares in the last quarter. Financial Advocates Investment Management boosted its position in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares during the period. Venturi Wealth Management LLC grew its stake in Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after acquiring an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after acquiring an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC lifted its stake in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COR. Barclays upped their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group raised their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America reissued a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, 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 report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Stock Performance

Cencora stock opened at $243.41 on Friday. 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 firm has a market cap of $47.96 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 1-year low of $191.11 and a 1-year high of $251.56. The firm has a 50-day moving average of $232.38 and a 200-day moving average of $231.00.

Cencora Increases Dividend

The firm 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 $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

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.