Franklin Resources Inc. Has $46.56 Million Position in Cencora, Inc. (NYSE:COR)

Franklin Resources Inc. boosted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 20.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,131 shares of the company's stock after buying an additional 35,024 shares during the period. Franklin Resources Inc. owned approximately 0.11% of Cencora worth $46,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Aaron Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter valued at $205,000. Fifth Third Wealth Advisors LLC purchased a new position in Cencora in the second quarter valued at about $403,000. Harbour Trust & Investment Management Co grew its stake in Cencora by 49.4% in the second quarter. Harbour Trust & Investment Management Co now owns 8,678 shares of the company's stock valued at $1,955,000 after purchasing an additional 2,871 shares in the last quarter. Tevis Investment Management increased its position in Cencora by 4.9% in the 2nd quarter. Tevis Investment Management now owns 1,476 shares of the company's stock worth $333,000 after purchasing an additional 69 shares during the last quarter. Finally, &PARTNERS raised its stake in shares of Cencora by 146.5% during the 2nd quarter. &PARTNERS now owns 5,870 shares of the company's stock worth $1,323,000 after purchasing an additional 3,489 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

COR traded down $0.65 during midday trading on Wednesday, reaching $226.99. The company's stock had a trading volume of 1,008,667 shares, compared to its average volume of 1,385,469. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a fifty day simple moving average of $238.70 and a 200 day simple moving average of $234.22. The stock has a market cap of $43.87 billion, a P/E ratio of 30.23, a PEG ratio of 1.54 and a beta of 0.45. Cencora, Inc. has a twelve month low of $199.75 and a twelve month high of $253.27.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is 29.29%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COR. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Wells Fargo & Company decreased their target price on shares of Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a research report on Friday, December 13th. Leerink Partners cut their price target on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Evercore ISI upped their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, Barclays raised their target price on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. 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, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.60.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares of the company's stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 93,018 shares of company stock worth $22,478,942 in the last ninety days. 15.80% of the stock is currently owned by 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.