Valley Wealth Managers Inc. Has $21.32 Million Stock Position in Cencora, Inc. (NYSE:COR)

Valley Wealth Managers Inc. cut its holdings in shares of Cencora, Inc. (NYSE:COR) by 1.4% during the third quarter, HoldingsChannel.com reports. The firm owned 94,699 shares of the company’s stock after selling 1,308 shares during the quarter. Cencora makes up 1.6% of Valley Wealth Managers Inc.’s portfolio, making the stock its 19th biggest position. Valley Wealth Managers Inc.’s holdings in Cencora were worth $21,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in Cencora during the 1st quarter valued at $2,183,619,000. JPMorgan Chase & Co. bought a new position in Cencora in the first quarter valued at about $1,199,695,000. Boston Partners acquired a new stake in shares of Cencora during the first quarter valued at about $1,001,269,000. Capital Research Global Investors acquired a new position in shares of Cencora in the first quarter worth approximately $650,424,000. Finally, Bessemer Group Inc. acquired a new position in shares of Cencora in the first quarter worth approximately $556,245,000. 97.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COR. Wells Fargo & Company boosted their price objective on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Barclays upped 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction 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 transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of COR stock traded down $4.52 during trading hours on Friday, reaching $238.34. The company had a trading volume of 195,210 shares, compared to its average volume of 1,402,172. The company has a market capitalization of $46.96 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 12-month low of $194.23 and a 12-month high of $251.56. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The stock has a fifty day moving average of $232.38 and a 200-day moving average of $231.00.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. 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 payout ratio is currently 27.16%.

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.