Empirical Finance LLC Reduces Holdings in Cencora, Inc. (NYSE:COR)

Empirical Finance LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 5,454 shares of the company’s stock after selling 45 shares during the quarter. Empirical Finance LLC’s holdings in Cencora were worth $1,225,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of COR. Lake Street Advisors Group LLC lifted its stake in Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Cencora by 1.0% in 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 boosted its stake in shares of Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares during the last quarter. Shepherd Financial Partners LLC increased its position in Cencora by 0.9% during the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock worth $1,223,000 after purchasing an additional 46 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Cencora by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock valued at $826,000 after purchasing an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction 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 in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,187 shares of company stock worth $17,790,912. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Mizuho assumed coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Evercore ISI raised their price objective on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Cencora Stock Performance

NYSE COR opened at $246.25 on Tuesday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.53. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $262.26. The firm has a market capitalization of $47.59 billion, a P/E ratio of 35.03, a P/E/G ratio of 1.49 and a beta of 0.49. The business’s 50-day simple moving average is $238.94 and its 200-day simple moving average is $236.90.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating 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%. Equities analysts predict that Cencora, Inc. will post 15.36 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. Cencora’s payout ratio is currently 31.29%.

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.