Ledyard National Bank Raises Stock Position in Cencora, Inc. (NYSE:COR)

Ledyard National Bank lifted its stake in Cencora, Inc. (NYSE:COR) by 64.2% in the 4th quarter, HoldingsChannel reports. The firm owned 7,822 shares of the company’s stock after buying an additional 3,058 shares during the quarter. Ledyard National Bank’s holdings in Cencora were worth $1,757,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its holdings in Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after buying an additional 43 shares during the period. Venturi Wealth Management LLC raised its position in shares of Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after acquiring an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Cencora by 1.3% during the third 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 in the last quarter. Finally, Trilogy Capital Inc. grew its stake in Cencora by 5.1% in the fourth quarter. Trilogy Capital Inc. now owns 1,038 shares of the company’s stock worth $233,000 after purchasing an additional 50 shares during the period. Institutional investors own 97.52% of the company’s stock.

Cencora Trading Down 2.8 %

Shares of NYSE:COR opened at $246.11 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 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 company has a market cap of $47.57 billion, a P/E ratio of 32.77, a PEG ratio of 1.59 and a beta of 0.49. The stock’s fifty day moving average price is $239.08 and its 200-day moving average price is $236.51.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. Sell-side analysts expect that Cencora, Inc. will post 15.32 earnings per share for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, February 14th. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group boosted their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.90.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,187 shares of company stock valued at $17,790,912. Company insiders own 10.80% of the company’s stock.

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.