CWA Asset Management Group LLC Takes $285,000 Position in Cencora, Inc. (NYSE:COR)

CWA Asset Management Group LLC acquired a new stake in shares of Cencora, Inc. (NYSE:COR) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,264 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new position in Cencora during the second quarter worth about $655,000. TD Asset Management Inc bought a new stake in Cencora in the first quarter worth about $95,313,000. Lake Street Advisors Group LLC bought a new stake in Cencora in the first quarter worth about $836,000. Czech National Bank raised its position in Cencora by 8.3% in the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares during the period. Finally, Natixis bought a new stake in Cencora in the first quarter worth about $5,842,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

Cencora stock opened at $248.77 on Wednesday. The firm’s 50 day simple moving average is $232.24 and its 200 day simple moving average is $230.86. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 4.84. The firm has a market capitalization of $49.02 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44. Cencora, Inc. has a 1-year low of $191.11 and a 1-year high of $251.56.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 27.16%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average target price of $271.20.

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.