Schear Investment Advisers LLC Buys 129 Shares of Cencora, Inc. (NYSE:COR)

Schear Investment Advisers LLC grew its stake in Cencora, Inc. (NYSE:COR) by 2.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 6,088 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Schear Investment Advisers LLC’s holdings in Cencora were worth $1,370,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in COR. New Millennium Group LLC bought a new stake in Cencora in the second quarter worth $26,000. TFO Wealth Partners LLC bought a new stake in Cencora in the first quarter worth $30,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora during the second quarter valued at $30,000. Concord Wealth Partners bought a new position in shares of Cencora during the third quarter valued at $30,000. Finally, LRI Investments LLC bought a new position in shares of Cencora during the first quarter valued at $31,000. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 1.1 %

COR stock opened at $240.24 on Friday. 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 business’s 50-day moving average is $232.62 and its two-hundred day moving average is $231.03. The company has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $194.23 and a fifty-two week high of $251.56.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. Cencora’s dividend payout ratio is presently 29.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on COR. Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Robert W. Baird upped their price target on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 15.80% of the company’s stock.

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.