Edgestream Partners L.P. Cuts Position in Cencora, Inc. (NYSE:COR)

Edgestream Partners L.P. lessened its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 86.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,878 shares of the company's stock after selling 17,928 shares during the quarter. Edgestream Partners L.P.'s holdings in Cencora were worth $648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its position in Cencora by 119.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 420,305 shares of the company's stock valued at $94,602,000 after acquiring an additional 228,881 shares during the last quarter. Arete Wealth Advisors LLC raised its position in Cencora by 4.9% in the 3rd quarter. Arete Wealth Advisors LLC now owns 2,412 shares of the company's stock valued at $541,000 after buying an additional 113 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Cencora by 5.3% during the third quarter. Rockefeller Capital Management L.P. now owns 116,120 shares of the company's stock worth $26,137,000 after purchasing an additional 5,840 shares during the last quarter. Vinva Investment Management Ltd increased its position in shares of Cencora by 172.9% during the third quarter. Vinva Investment Management Ltd now owns 8,182 shares of the company's stock valued at $1,840,000 after acquiring an additional 5,184 shares during the last quarter. Finally, Financial Counselors Inc. raised its stake in shares of Cencora by 20.2% during the 3rd quarter. Financial Counselors Inc. now owns 1,284 shares of the company's stock worth $289,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 97.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COR shares. StockNews.com lowered shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Mizuho started coverage on Cencora in a research report on Wednesday. They issued an "outperform" rating and a $280.00 target price for the company. Barclays boosted their price objective on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Bank of America reiterated a "neutral" rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $276.80.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 93,018 shares of company stock valued at $22,478,942 in the last 90 days. Company insiders own 15.80% of the company's stock.

Cencora Stock Performance

NYSE:COR traded down $0.10 during trading hours on Friday, reaching $244.21. The company had a trading volume of 416,761 shares, compared to its average volume of 1,386,510. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a market cap of $47.20 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.45. The business's 50 day moving average price is $236.75 and its 200-day moving average price is $233.19. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $253.27.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. Cencora's dividend payout ratio (DPR) is presently 29.29%.

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.