GABELLI & Co INVESTMENT ADVISERS INC. Invests $247,000 in Cencora, Inc. (NYSE:COR)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,282 shares of the company’s stock, valued at approximately $247,000.

Several other large investors have also made changes to their positions in COR. United Bank boosted its position in shares of Cencora by 16.6% during the 1st quarter. United Bank now owns 3,632 shares of the company’s stock worth $562,000 after acquiring an additional 518 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of Cencora by 29.9% during the 1st quarter. Raymond James Trust N.A. now owns 5,193 shares of the company’s stock worth $803,000 after acquiring an additional 1,194 shares in the last quarter. Synovus Financial Corp boosted its position in Cencora by 123.4% in the first quarter. Synovus Financial Corp now owns 6,301 shares of the company’s stock valued at $975,000 after buying an additional 3,480 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Cencora by 22.5% in the first quarter. Vontobel Holding Ltd. now owns 2,767 shares of the company’s stock valued at $430,000 after buying an additional 508 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in Cencora by 12.4% in the first quarter. Blair William & Co. IL now owns 8,124 shares of the company’s stock valued at $1,257,000 after buying an additional 899 shares in the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Cencora from $176.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. TD Cowen raised their target price on shares of Cencora from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. StockNews.com initiated coverage on shares of Cencora in a research report on Sunday, October 1st. They issued a “strong-buy” rating on the stock. Evercore ISI raised their target price on shares of Cencora from $210.00 to $225.00 in a research report on Wednesday, October 11th. Finally, TheStreet raised shares of Cencora from a “c” rating to a “b” rating in a research note on Monday, October 9th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $196.08.

Insider Buying and Selling at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,279,590 shares of Cencora stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $195.38, for a total value of $250,006,294.20. Following the completion of the sale, the insider now directly owns 30,489,956 shares of the company’s stock, valued at $5,957,127,603.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder Walgreens Boots Alliance, Inc. sold 1,279,590 shares of Cencora stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $195.38, for a total transaction of $250,006,294.20. Following the completion of the transaction, the insider now directly owns 30,489,956 shares in the company, valued at $5,957,127,603.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total transaction of $4,627,000.00. Following the transaction, the chief executive officer now owns 257,967 shares of the company’s stock, valued at $47,744,532.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,343,672 shares of company stock valued at $262,243,280. Corporate insiders own 1.40% of the company’s stock.

Cencora Trading Down 1.0 %

NYSE COR traded down $1.91 during mid-day trading on Friday, reaching $195.00. 1,261,203 shares of the stock were exchanged, compared to its average volume of 1,417,938. Cencora, Inc. has a one year low of $147.48 and a one year high of $199.66. The stock has a 50 day simple moving average of $186.98 and a 200-day simple moving average of $181.33. The stock has a market cap of $39.43 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 0.53. The company has a debt-to-equity ratio of 6.22, a current ratio of 0.88 and a quick ratio of 0.52.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Monday, November 13th will be paid a $0.51 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 10th. Cencora’s payout ratio is 23.92%.

Cencora Company Profile

Cencora, Inc sources and distributes pharmaceutical products. Its 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.