Cencora, Inc. (NYSE:COR) Stake Raised by Quantbot Technologies LP

Quantbot Technologies LP raised its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 61.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,557 shares of the company's stock after purchasing an additional 49,997 shares during the period. Cencora comprises 1.2% of Quantbot Technologies LP's holdings, making the stock its largest position. Quantbot Technologies LP owned about 0.07% of Cencora worth $29,611,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Cencora during the 2nd quarter worth approximately $26,000. LRI Investments LLC purchased a new stake in shares of Cencora during the first quarter worth approximately $31,000. MFA Wealth Advisors LLC acquired a new position in Cencora in the 2nd quarter valued at $30,000. Concord Wealth Partners purchased a new position in Cencora in the 3rd quarter valued at $30,000. Finally, SYSTM Wealth Solutions LLC acquired a new stake in Cencora during the 2nd quarter worth $36,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Robert W. Baird raised their price target on Cencora from $287.00 to $292.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. UBS Group upped their target price 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. Wells Fargo & Company increased their price target on Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Cencora from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 20th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $271.20.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company's stock, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

COR stock traded up $4.22 during trading on Tuesday, hitting $248.45. The company had a trading volume of 977,950 shares, compared to its average volume of 1,398,667. The firm has a 50-day moving average price of $233.28 and a 200-day moving average price of $231.85. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The firm has a market cap of $48.96 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.63 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 Increases Dividend

The company 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 dividend of $0.55 per share. This is a boost from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. Cencora's dividend payout ratio is currently 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.