TimesSquare Capital Management LLC Has $119.02 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

TimesSquare Capital Management LLC raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 528,784 shares of the company's stock after purchasing an additional 28,542 shares during the period. Cencora accounts for approximately 1.8% of TimesSquare Capital Management LLC's holdings, making the stock its 4th biggest holding. TimesSquare Capital Management LLC owned 0.27% of Cencora worth $119,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of COR. Legacy Capital Wealth Partners LLC bought a new stake in shares of Cencora during the 3rd quarter valued at about $908,000. Axxcess Wealth Management LLC grew its position in shares of Cencora by 9.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,389 shares of the company's stock valued at $2,338,000 after buying an additional 901 shares during the last quarter. Bridges Investment Management Inc. grew its position in shares of Cencora by 16.1% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,639 shares of the company's stock valued at $369,000 after buying an additional 227 shares during the last quarter. Assetmark Inc. grew its position in shares of Cencora by 33.8% during the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company's stock valued at $571,000 after buying an additional 641 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in shares of Cencora by 19.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 28,183 shares of the company's stock valued at $6,343,000 after buying an additional 4,612 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday. Bank of America reissued a "neutral" rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Leerink Partners reduced their target price 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. 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 note on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. Three equities 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, the company has an average rating of "Moderate Buy" and an average price target of $271.20.

Cencora Trading Up 0.3 %

Shares of COR stock traded up $0.65 during trading hours on Friday, reaching $248.41. 1,376,073 shares of the stock traded hands, compared to its average volume of 1,341,350. Cencora, Inc. has a 1-year low of $191.11 and a 1-year high of $251.00. The business has a fifty day moving average price of $231.95 and a 200 day moving average price of $230.74. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm has a market capitalization of $48.95 billion, a PE ratio of 33.08, a PEG ratio of 1.55 and a beta of 0.44.

Cencora Increases Dividend

The business 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. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora's previous quarterly dividend of $0.51. Cencora's dividend payout ratio is currently 27.16%.

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.