Eagle Rock Investment Company LLC Has $8.77 Million Stake in Cencora, Inc. (NYSE:COR)

Eagle Rock Investment Company LLC increased its stake in shares of Cencora, Inc. (NYSE:COR) by 2.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,040 shares of the company’s stock after buying an additional 1,048 shares during the quarter. Cencora accounts for about 1.5% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 17th largest holding. Eagle Rock Investment Company LLC’s holdings in Cencora were worth $8,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Concord Wealth Partners bought a new stake in shares of Cencora during the 3rd quarter valued at $30,000. SYSTM Wealth Solutions LLC bought a new stake in Cencora during the second quarter worth about $36,000. Ashton Thomas Securities LLC bought a new stake in Cencora during the third quarter worth about $41,000. Fairscale Capital LLC acquired a new stake in Cencora during the second quarter worth about $54,000. Finally, Modus Advisors LLC bought a new position in Cencora in the 4th quarter valued at about $54,000. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COR shares. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. Barclays lifted their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $275.60.

Cencora Price Performance

Shares of COR opened at $240.51 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The stock has a market cap of $46.49 billion, a PE ratio of 32.03, a PEG ratio of 1.48 and a beta of 0.49. Cencora, Inc. has a 12-month low of $214.77 and a 12-month high of $253.27. The business has a 50-day simple moving average of $237.65 and a two-hundred day simple moving average of $233.72.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 29.29%.

Insider Buying and Selling

In other news, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction 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 transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock worth $22,862,734 in the last ninety days. Company insiders own 15.80% of the company’s stock.

About Cencora

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.