KBC Group NV Cuts Stake in Cencora, Inc. (NYSE:COR)

KBC Group NV lowered its position in Cencora, Inc. (NYSE:COR - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 277,923 shares of the company's stock after selling 53,152 shares during the quarter. KBC Group NV owned about 0.14% of Cencora worth $62,555,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in COR. Schrum Private Wealth Management LLC bought a new stake in shares of Cencora during the 3rd quarter valued at about $290,000. Oppenheimer & Co. Inc. boosted its position in shares of Cencora by 2.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,850 shares of the company's stock valued at $1,317,000 after acquiring an additional 115 shares during the last quarter. First Heartland Consultants Inc. boosted its position in shares of Cencora by 3.6% during the 3rd quarter. First Heartland Consultants Inc. now owns 2,288 shares of the company's stock valued at $515,000 after acquiring an additional 79 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company's stock worth $848,000 after buying an additional 46 shares during the last quarter. Finally, Savvy Advisors Inc. bought a new stake in Cencora in the 3rd quarter worth approximately $222,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Trading Down 1.7 %

Shares of COR traded down $4.34 during mid-day trading on Thursday, hitting $245.63. 576,517 shares of the company's stock traded hands, compared to its average volume of 1,404,053. The firm has a market capitalization of $48.40 billion, a P/E ratio of 33.28, a PEG ratio of 1.66 and a beta of 0.44. The business's 50-day moving average price is $232.38 and its 200-day moving average price is $231.00. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $251.56. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.90%. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora's payout ratio is 27.16%.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on COR shares. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Bank of America restated a "neutral" rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com downgraded Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. Finally, Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $271.20.

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.