Geode Capital Management LLC Grows Stock Holdings in Cencora, Inc. (NYSE:COR)

Geode Capital Management LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 4.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,195,851 shares of the company's stock after acquiring an additional 189,054 shares during the period. Geode Capital Management LLC owned about 2.13% of Cencora worth $941,183,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. New Millennium Group LLC bought a new position in Cencora during the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new stake in Cencora in the second quarter worth approximately $30,000. Concord Wealth Partners acquired a new position in Cencora in the third quarter valued at approximately $30,000. SYSTM Wealth Solutions LLC bought a new position in shares of Cencora during the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Cencora during the 3rd quarter worth approximately $41,000. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 93,018 shares of company stock valued at $22,478,942 over the last three months. Corporate insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COR shares. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price objective on the stock. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Bank of America restated a "neutral" rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. 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, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.80.

Cencora Stock Up 0.1 %

Shares of COR stock traded up $0.27 on Thursday, hitting $232.16. The stock had a trading volume of 973,034 shares, compared to its average volume of 1,389,426. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The business has a 50 day moving average of $238.11 and a 200 day moving average of $233.82. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $253.27. The stock has a market cap of $44.87 billion, a price-to-earnings ratio of 30.91, a price-to-earnings-growth ratio of 1.62 and a beta of 0.45.

Cencora Increases Dividend

The firm 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. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is presently 29.29%.

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.