Vaughan Nelson Investment Management L.P. Has $42.71 Million Stake in Cencora, Inc. (NYSE:COR)

Vaughan Nelson Investment Management L.P. raised its stake in Cencora, Inc. (NYSE:COR - Free Report) by 43.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,746 shares of the company's stock after buying an additional 57,873 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.10% of Cencora worth $42,708,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. New Millennium Group LLC bought a new position in Cencora in the second quarter valued at approximately $26,000. TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora in the second quarter valued at approximately $30,000. Concord Wealth Partners acquired a new stake in shares of Cencora in the third quarter valued at approximately $30,000. Finally, LRI Investments LLC acquired a new stake in shares of Cencora in the first quarter valued at approximately $31,000. Institutional investors own 97.52% of the company's stock.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company's stock, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 15.80% of the stock is currently owned by company insiders.

Cencora Stock Performance

Shares of NYSE:COR traded down $2.61 on Friday, hitting $240.24. The company had a trading volume of 1,844,676 shares, compared to its average volume of 1,239,838. Cencora, Inc. has a 1-year low of $194.23 and a 1-year high of $251.56. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 1.60 and a beta of 0.44. The stock has a 50 day moving average price of $232.62 and a 200 day moving average price of $231.03. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.55 dividend. This is an increase from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 15th. Cencora's payout ratio is currently 27.16%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Barclays lifted their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Bank of America restated a "neutral" rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and an average price target of $271.20.

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.