Portfolio Design Labs LLC Takes $1.40 Million Position in Cencora, Inc. (NYSE:COR)

Portfolio Design Labs LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,238 shares of the company's stock, valued at approximately $1,404,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of COR. Osaic Holdings Inc. purchased a new position in shares of Cencora during the 1st quarter valued at $9,962,000. Covestor Ltd bought a new stake in Cencora during the 1st quarter valued at approximately $55,000. Ameritas Investment Partners Inc. bought a new stake in Cencora during the 1st quarter valued at approximately $465,000. UniSuper Management Pty Ltd purchased a new position in Cencora in the 1st quarter worth approximately $1,485,000. Finally, Lake Street Advisors Group LLC purchased a new stake in Cencora during the 1st quarter valued at approximately $836,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.9 %

COR traded up $2.22 during trading on Wednesday, reaching $243.20. The company had a trading volume of 753,912 shares, compared to its average volume of 1,403,907. The business has a 50 day simple moving average of $232.82 and a 200-day simple moving average of $231.29. The stock has a market cap of $47.92 billion, a P/E ratio of 32.27, a PEG ratio of 1.60 and a beta of 0.44. 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, Inc. has a 52 week low of $195.83 and a 52 week high of $251.56.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. 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. Cencora's dividend payout ratio (DPR) is presently 29.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 1st. StockNews.com lowered Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. 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. Finally, Leerink Partners cut their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $271.20.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction 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 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.80% of the stock is owned by company insiders.

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.