CIBC Asset Management Inc lifted its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,237 shares of the company's stock after purchasing an additional 2,438 shares during the quarter. CIBC Asset Management Inc's holdings in Cencora were worth $8,825,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC bought a new position in shares of Cencora in the first quarter valued at about $681,000. Blair William & Co. IL acquired a new position in shares of Cencora in the 1st quarter valued at $5,520,000. Orion Portfolio Solutions LLC bought a new stake in shares of Cencora in the 1st quarter valued at $3,026,000. Dorsey & Whitney Trust CO LLC acquired a new stake in Cencora during the 1st quarter worth $288,000. Finally, TIAA Trust National Association acquired a new position in Cencora in the first quarter valued at about $506,000. Institutional investors own 97.52% of the company's stock.
Insider Buying and Selling at Cencora
In other news, Chairman Steven H. Collis sold 21,509 shares of the firm'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 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 $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.80% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on COR shares. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. UBS Group raised their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Finally, Bank of America restated a "neutral" rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $271.20.
Get Our Latest Analysis on Cencora
Cencora Stock Down 1.1 %
NYSE COR traded down $2.61 during trading hours on Friday, hitting $240.24. 1,844,676 shares of the company traded hands, compared to its average volume of 1,239,838. The stock has a market capitalization of $47.34 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a twelve month low of $194.23 and a twelve month high of $251.56. The business's 50-day moving average is $232.62 and its 200-day moving average is $231.03. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.
Cencora Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora's payout ratio is presently 27.16%.
About Cencora
(
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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