Premier Fund Managers Ltd Makes New $8.98 Million Investment in Cencora, Inc. (NYSE:COR)

Premier Fund Managers Ltd purchased a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,950 shares of the company's stock, valued at approximately $8,982,000.

Other institutional investors also recently modified their holdings of the company. Lake Street Advisors Group LLC lifted its stake in Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company's stock valued at $769,000 after acquiring an additional 43 shares during the period. Financial Advocates Investment Management boosted its holdings in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company's stock worth $220,000 after purchasing an additional 44 shares during the last quarter. Venturi Wealth Management LLC grew its position in Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company's stock worth $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC raised its stake in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company's stock valued at $848,000 after buying an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of Cencora by 2.2% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company's stock valued at $499,000 after buying an additional 48 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 sale, the chairman now owns 285,088 shares in the company, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 15.80% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on COR. Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Finally, UBS Group lifted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Cencora presently has a consensus rating of "Moderate Buy" and an average target price of $271.20.

Cencora Price Performance

COR traded up $1.26 during trading hours on Wednesday, hitting $242.24. The company's stock had a trading volume of 201,925 shares, compared to its average volume of 1,401,318. The stock has a market cap of $47.73 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.60 and a beta of 0.44. 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 current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 is an increase from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora's payout ratio is 29.29%.

Cencora 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.