BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Cencora, Inc. (NYSE:COR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,950 shares of the company's stock after selling 4,436 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cencora were worth $6,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after buying an additional 67,287 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cencora by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company's stock valued at $349,372,000 after buying an additional 18,782 shares during the last quarter. Swedbank AB grew its stake in shares of Cencora by 2.3% during the third quarter. Swedbank AB now owns 1,394,449 shares of the company's stock valued at $313,863,000 after buying an additional 31,104 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company's stock valued at $284,544,000 after buying an additional 119,927 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COR shares. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. StockNews.com lowered shares of Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Bank of America reiterated a "neutral" rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $271.20.

Cencora Stock Up 0.1 %

COR traded up $0.18 on Tuesday, hitting $250.05. The company had a trading volume of 1,233,580 shares, compared to its average volume of 1,211,583. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $253.27. The stock has a fifty day simple moving average of $235.84 and a 200-day simple moving average of $233.00. The firm has a market capitalization of $49.27 billion, a P/E ratio of 33.30, a P/E/G ratio of 1.66 and a beta of 0.45.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora's dividend payout ratio (DPR) is presently 29.29%.

Insider Activity

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares of the company's stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 93,018 shares of company stock worth $22,478,942. 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.