Northwest Bancshares Inc. Takes Position in Cencora, Inc. (NYSE:COR)

Northwest Bancshares Inc. purchased a new position in Cencora, Inc. (NYSE:COR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 23,631 shares of the company's stock, valued at approximately $5,319,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in COR. Premier Fund Managers Ltd purchased a new stake in shares of Cencora in the third quarter worth about $8,982,000. Avior Wealth Management LLC grew its holdings in Cencora by 66.5% in the 3rd quarter. Avior Wealth Management LLC now owns 6,004 shares of the company's stock worth $1,351,000 after buying an additional 2,398 shares in the last quarter. West Family Investments Inc. boosted its stake in Cencora by 25.9% during the 3rd quarter. West Family Investments Inc. now owns 3,380 shares of the company's stock valued at $761,000 after purchasing an additional 696 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Cencora during the 3rd quarter valued at $1,648,000. Finally, Banque Cantonale Vaudoise boosted its stake in Cencora by 11.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 23,024 shares of the company's stock valued at $5,182,000 after purchasing an additional 2,278 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Price Performance

Shares of NYSE:COR traded up $1.34 during trading on Wednesday, reaching $242.32. The stock had a trading volume of 346,539 shares, compared to its average volume of 1,401,737. Cencora, Inc. has a 52 week low of $195.83 and a 52 week high of $251.56. The business's 50-day moving average price is $232.82 and its 200 day moving average price is $231.29. 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 stock has a market capitalization of $47.75 billion, a PE ratio of 32.27, a P/E/G ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio (DPR) is currently 29.29%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the sale, the chairman now directly owns 285,088 shares of the company's stock, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COR has been the subject of a number of recent research reports. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Evercore ISI increased their price objective on Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Bank of America reaffirmed a "neutral" rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Cencora has a consensus rating of "Moderate Buy" and a consensus target price of $271.20.

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.