SteelPeak Wealth LLC Trims Position in Cencora, Inc. (NYSE:COR)

SteelPeak Wealth LLC trimmed its position in Cencora, Inc. (NYSE:COR) by 87.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,065 shares of the company’s stock after selling 7,529 shares during the period. SteelPeak Wealth LLC’s holdings in Cencora were worth $239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC grew its position in Cencora by 5.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,206 shares of the company’s stock valued at $945,000 after buying an additional 223 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Cencora by 15.5% during the 4th quarter. Perigon Wealth Management LLC now owns 2,427 shares of the company’s stock worth $585,000 after acquiring an additional 325 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Cencora by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company’s stock valued at $495,249,000 after acquiring an additional 138,868 shares during the period. KBC Group NV increased its stake in shares of Cencora by 18.4% in the 4th quarter. KBC Group NV now owns 329,035 shares of the company’s stock worth $73,928,000 after purchasing an additional 51,112 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in Cencora during the fourth quarter valued at $2,892,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $278.40.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock worth $17,790,912 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Down 1.7 %

Shares of COR stock opened at $254.11 on Friday. The company’s fifty day simple moving average is $238.74 and its two-hundred day simple moving average is $235.83. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $261.25. The stock has a market cap of $49.11 billion, a P/E ratio of 33.84, a PEG ratio of 1.61 and a beta of 0.49. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently declared 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. The ex-dividend date was Friday, November 15th. 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 yield of 0.87%. Cencora’s dividend payout ratio is presently 29.29%.

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.