HighTower Advisors LLC Sells 2,280 Shares of Cencora, Inc. (NYSE:COR)

HighTower Advisors LLC lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 1.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 129,090 shares of the company's stock after selling 2,280 shares during the period. HighTower Advisors LLC owned approximately 0.07% of Cencora worth $29,153,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank grew its holdings in Cencora by 8.3% during the second quarter. Czech National Bank now owns 31,546 shares of the company's stock worth $7,107,000 after buying an additional 2,414 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company's stock worth $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Cencora by 9.9% in the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company's stock worth $18,250,000 after acquiring an additional 7,266 shares in the last quarter. Portfolio Design Labs LLC purchased a new stake in shares of Cencora in the third quarter valued at about $1,404,000. Finally, &PARTNERS lifted its position in shares of Cencora by 146.5% during the second quarter. &PARTNERS now owns 5,870 shares of the company's stock valued at $1,323,000 after purchasing an additional 3,489 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Shares of NYSE COR traded down $0.90 during midday trading on Friday, hitting $243.41. The company's stock had a trading volume of 1,199,802 shares, compared to its average volume of 1,389,951. The stock has a fifty day moving average price of $236.75 and a 200 day moving average price of $233.19. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27. 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 firm has a market capitalization of $47.05 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 1.66 and a beta of 0.45.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio is 29.29%.

Analysts Set New Price Targets

Several research analysts recently weighed in on COR shares. JPMorgan Chase & Co. boosted their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Mizuho started coverage on shares of Cencora in a report on Wednesday. They set an "outperform" rating and a $280.00 price target on the stock. Robert W. Baird boosted their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Bank of America reiterated a "neutral" rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, StockNews.com cut shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $276.80.

Insider Buying and Selling

In related news, 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 transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. In the last 90 days, insiders have sold 93,018 shares of company stock valued at $22,478,942. Company insiders own 15.80% of the company's stock.

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.