Empowered Funds LLC Grows Position in Cencora, Inc. (NYSE:COR)

Empowered Funds LLC lifted its position in Cencora, Inc. (NYSE:COR - Free Report) by 92.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,304 shares of the company's stock after purchasing an additional 36,754 shares during the quarter. Empowered Funds LLC's holdings in Cencora were worth $17,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Business Financial Services Inc. grew its position in Cencora by 4.2% during the 3rd quarter. First Business Financial Services Inc. now owns 13,255 shares of the company's stock worth $2,983,000 after purchasing an additional 537 shares during the period. CIBC Asset Management Inc grew its holdings in Cencora by 6.6% during the third quarter. CIBC Asset Management Inc now owns 39,237 shares of the company's stock worth $8,825,000 after acquiring an additional 2,438 shares during the period. Intellectus Partners LLC raised its position in Cencora by 6.3% during the third quarter. Intellectus Partners LLC now owns 3,058 shares of the company's stock valued at $688,000 after acquiring an additional 182 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Cencora by 2.0% in the third quarter. Metis Global Partners LLC now owns 8,719 shares of the company's stock valued at $1,962,000 after acquiring an additional 175 shares during the period. Finally, Schrum Private Wealth Management LLC purchased a new stake in Cencora in the 3rd quarter worth approximately $290,000. Institutional investors and hedge funds own 97.52% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction 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 completion of the transaction, the chairman now directly owns 285,088 shares in the company, 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 the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COR shares. StockNews.com cut shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. UBS Group upped their price objective on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Bank of America restated a "neutral" rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Robert W. Baird upped their price target on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $271.20.

Cencora Price Performance

Shares of NYSE COR traded down $2.61 during midday trading on Friday, hitting $240.24. The stock had a trading volume of 1,838,270 shares, compared to its average volume of 1,410,016. 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 1 year low of $194.23 and a 1 year high of $251.56. The company has a market capitalization of $47.34 billion, a PE ratio of 31.99, a P/E/G ratio of 1.66 and a beta of 0.44. The stock has a 50 day simple moving average of $232.62 and a 200-day simple moving average of $231.08.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. 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.