Nicolet Advisory Services LLC Raises Holdings in Cencora, Inc. (NYSE:COR)

Nicolet Advisory Services LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,647 shares of the company’s stock after buying an additional 78 shares during the period. Nicolet Advisory Services LLC’s holdings in Cencora were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Camden National Bank bought a new stake in Cencora during the third quarter valued at about $344,000. Meridian Wealth Management LLC bought a new stake in shares of Cencora in the 3rd quarter valued at about $375,000. Raymond James Trust N.A. grew its position in shares of Cencora by 1.3% in the 3rd quarter. Raymond James Trust N.A. now owns 3,925 shares of the company’s stock worth $883,000 after buying an additional 52 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of Cencora by 32.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,009,454 shares of the company’s stock worth $250,758,000 after acquiring an additional 249,739 shares in the last quarter. Finally, HealthInvest Partners AB lifted its position in Cencora by 20.5% during the third quarter. HealthInvest Partners AB now owns 36,544 shares of the company’s stock valued at $8,225,000 after acquiring an additional 6,224 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Down 0.3 %

NYSE:COR opened at $245.02 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. The company’s fifty day moving average price is $233.22 and its 200-day moving average price is $231.62. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The firm has a market capitalization of $48.28 billion, a P/E ratio of 32.63, a PEG ratio of 1.63 and a beta of 0.44.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on COR shares. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora 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.