Cencora, Inc. (NYSE:COR) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,726 shares of the company's stock after purchasing an additional 19,831 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Cencora worth $69,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama grew its position in shares of Cencora by 4.0% in the 3rd quarter. Retirement Systems of Alabama now owns 37,987 shares of the company's stock valued at $8,550,000 after buying an additional 1,470 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cencora by 20.4% in the third quarter. Franklin Resources Inc. now owns 207,131 shares of the company's stock valued at $46,564,000 after acquiring an additional 35,024 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of Cencora by 2.8% during the third quarter. Peapack Gladstone Financial Corp now owns 3,240 shares of the company's stock worth $729,000 after purchasing an additional 88 shares during the last quarter. Synovus Financial Corp increased its position in shares of Cencora by 8.3% during the third quarter. Synovus Financial Corp now owns 16,199 shares of the company's stock worth $3,646,000 after purchasing an additional 1,242 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Cencora by 18.2% during the third quarter. Tidal Investments LLC now owns 20,684 shares of the company's stock worth $4,656,000 after purchasing an additional 3,189 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company's stock.

Cencora Stock Up 0.6 %

COR opened at $227.69 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. Cencora, Inc. has a 12 month low of $199.82 and a 12 month high of $253.27. The stock has a market capitalization of $44.01 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.54 and a beta of 0.45. The business has a 50 day simple moving average of $239.00 and a 200-day simple moving average of $234.12.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. This is an increase from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio (DPR) is 29.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on Cencora from $249.00 to $237.00 and set an "equal weight" rating on the stock in a research note on Friday, December 13th. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 target price on the stock. StockNews.com cut shares of Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Leerink Partners decreased their price target on shares of 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 lifted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $275.60.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction that occurred on 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 sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 93,018 shares of company stock worth $22,478,942. Corporate insiders own 15.80% of the company's stock.

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.