Public Sector Pension Investment Board Raises Stock Holdings in Cencora, Inc. (NYSE:COR)

Public Sector Pension Investment Board grew its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 53.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,908 shares of the company's stock after buying an additional 2,400 shares during the quarter. Public Sector Pension Investment Board's holdings in Cencora were worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COR. New Millennium Group LLC bought a new position in Cencora during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Cencora in the second quarter worth approximately $30,000. Concord Wealth Partners purchased a new position in shares of Cencora during the 3rd quarter worth $30,000. SYSTM Wealth Solutions LLC bought a new stake in Cencora during the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Cencora in the 3rd quarter worth approximately $41,000. Institutional investors own 97.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on COR. StockNews.com cut Cencora from a "strong-buy" rating to a "buy" rating in a report on Friday, September 20th. Bank of America reiterated a "neutral" rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Evercore ISI boosted their target price on Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, UBS Group raised their price target on Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Two 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.80.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares of the company's stock, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Cencora Stock Down 0.4 %

Shares of COR traded down $0.90 during trading hours on Friday, hitting $243.41. The company had a trading volume of 1,199,812 shares, compared to its average volume of 1,126,541. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27. The company's fifty day moving average price is $237.12 and its two-hundred day moving average price is $233.46. The company has a market capitalization of $47.05 billion, a PE ratio of 32.41, a price-to-earnings-growth ratio of 1.65 and a beta of 0.45. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. Cencora's dividend payout ratio is presently 29.29%.

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.