Cencora, Inc. (NYSE:COR) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC increased its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 103.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,943 shares of the company's stock after buying an additional 4,555 shares during the quarter. Gateway Investment Advisers LLC's holdings in Cencora were worth $2,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in COR. State Street Corp grew its stake in Cencora by 3.8% during the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company's stock valued at $1,810,970,000 after purchasing an additional 291,867 shares during the last quarter. Wellington Management Group LLP boosted its position in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock valued at $1,168,927,000 after buying an additional 338,452 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cencora by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock worth $941,183,000 after buying an additional 189,054 shares during the period. Pacer Advisors Inc. raised its position in Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company's stock worth $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company's stock valued at $422,538,000 after acquiring an additional 67,287 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COR shares. Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a research note on Friday, December 13th. Evercore ISI upped 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. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Finally, Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $275.60.

Cencora Price Performance

COR traded up $1.22 during midday trading on Friday, hitting $242.11. 1,492,998 shares of the company traded hands, compared to its average volume of 993,012. The business has a 50 day simple moving average of $237.52 and a two-hundred day simple moving average of $233.93. Cencora, Inc. has a 52-week low of $214.77 and a 52-week high of $253.27. The company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.48 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is a boost from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio is presently 29.29%.

Insider Activity

In other news, EVP Silvana Battaglia sold 1,678 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares of the company's stock, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,696 shares of company stock worth $22,862,734 over the last quarter. 15.80% of the stock is currently owned by corporate insiders.

Cencora Company Profile

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.