Sumitomo Mitsui Trust Group Inc. raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,059,456 shares of the company's stock after purchasing an additional 87,393 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.54% of Cencora worth $238,462,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Cencora in the 2nd quarter valued at about $26,000. TCTC Holdings LLC acquired a new stake in shares of Cencora in the first quarter valued at $29,000. TFO Wealth Partners LLC acquired a new position in Cencora during the 1st quarter worth $30,000. LRI Investments LLC purchased a new stake in Cencora during the 1st quarter worth about $31,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Cencora in the 2nd quarter valued at about $30,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on COR shares. Bank of America reaffirmed a "neutral" rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Evercore ISI lifted their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, Barclays upped their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.20.
Check Out Our Latest Research Report on COR
Cencora Stock Performance
Shares of NYSE COR traded up $1.16 during midday trading on Wednesday, reaching $249.95. 1,255,500 shares of the company were exchanged, compared to its average volume of 1,407,809. The stock has a market cap of $49.25 billion, a P/E ratio of 33.28, a PEG ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $251.56. The stock has a fifty day simple moving average of $232.38 and a 200 day simple moving average of $231.00. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.
Cencora Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is presently 27.16%.
Insider Transactions at Cencora
In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 15.80% of the company's stock.
Cencora Company Profile
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Free Report)
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.
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