Mawer Investment Management Ltd. reduced its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,542 shares of the company's stock after selling 15,297 shares during the quarter. Mawer Investment Management Ltd. owned 0.37% of Cencora worth $165,106,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. TIAA Trust National Association acquired a new stake in shares of Cencora during the 1st quarter valued at $506,000. Osaic Holdings Inc. acquired a new position in shares of Cencora in the 1st quarter valued at $9,962,000. Jacobi Capital Management LLC purchased a new position in Cencora in the 1st quarter worth about $432,000. Covestor Ltd acquired a new stake in Cencora during the 1st quarter worth about $55,000. Finally, Trustmark National Bank Trust Department purchased a new stake in Cencora during the first quarter valued at about $1,342,000. 97.52% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Cencora
In other news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 15.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on COR. JPMorgan Chase & Co. lifted their target price on Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. StockNews.com cut shares of Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $271.20.
Read Our Latest Research Report on Cencora
Cencora Stock Performance
NYSE COR traded up $2.63 during midday trading on Monday, hitting $242.87. The company had a trading volume of 1,246,522 shares, compared to its average volume of 1,409,300. The firm has a fifty day simple moving average of $232.62 and a two-hundred day simple moving average of $231.04. Cencora, Inc. has a fifty-two week low of $194.56 and a fifty-two week 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. The stock has a market cap of $47.86 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 1.60 and a beta of 0.44.
Cencora Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. This is an increase from Cencora's previous quarterly dividend of $0.51. Cencora's payout ratio is currently 27.16%.
Cencora Company Profile
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Free Report)
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.
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