Cencora, Inc. (NYSE:COR) Position Lowered by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in Cencora, Inc. (NYSE:COR - Free Report) by 7.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,180 shares of the company's stock after selling 10,140 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.06% of Cencora worth $26,825,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Cencora by 3.8% in the third quarter. State Street Corp now owns 8,045,896 shares of the company's stock valued at $1,810,970,000 after buying an additional 291,867 shares during the last quarter. Wellington Management Group LLP raised its holdings in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cencora by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock worth $941,183,000 after purchasing an additional 189,054 shares during the period. Pacer Advisors Inc. boosted its holdings 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 worth $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after purchasing an additional 67,287 shares during the period. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

COR has been the topic of several recent analyst reports. StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Bank of America reiterated a "neutral" rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners lowered their target price on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Barclays upped their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Mizuho started coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.60.

Insider Activity 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 transaction, the chairman now directly owns 285,088 shares of the company's stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is currently owned by company insiders.

Cencora Stock Down 1.0 %

Shares of NYSE:COR traded down $2.36 during midday trading on Monday, hitting $229.88. 1,630,523 shares of the company's stock traded hands, compared to its average volume of 1,387,907. Cencora, Inc. has a twelve month low of $199.37 and a twelve month high of $253.27. The company has a market cap of $44.43 billion, a PE ratio of 30.60, a P/E/G ratio of 1.54 and a beta of 0.45. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm's fifty day moving average price is $238.36 and its two-hundred day moving average price is $234.14.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio (DPR) is 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.