Benjamin Edwards Inc. Raises Position in Cencora, Inc. (NYSE:COR)

Benjamin Edwards Inc. raised its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1,552.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,041 shares of the company's stock after buying an additional 8,494 shares during the quarter. Benjamin Edwards Inc.'s holdings in Cencora were worth $2,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Millennium Group LLC bought a new position in shares of Cencora during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora in the second quarter valued at approximately $30,000. Concord Wealth Partners bought a new position in Cencora during the third quarter worth $30,000. SYSTM Wealth Solutions LLC bought a new position in Cencora in the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Cencora during the third quarter worth approximately $41,000. 97.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COR. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Bank of America reissued 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. UBS Group boosted their price target on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Finally, Mizuho initiated coverage on shares of Cencora in a research report on Wednesday. They issued an "outperform" rating and a $280.00 target price for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $276.80.

Cencora Price Performance

Shares of NYSE COR traded down $4.03 during midday trading on Thursday, reaching $244.31. 1,337,065 shares of the company were exchanged, compared to its average volume of 1,390,761. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27. The stock has a market cap of $48.14 billion, a P/E ratio of 33.09, a PEG ratio of 1.66 and a beta of 0.45. The stock's 50-day moving average price is $236.34 and its 200-day moving average price is $233.11.

Cencora Increases Dividend

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

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is currently owned by company insiders.

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.