Victory Capital Management Inc. Sells 9,310 Shares of Cencora, Inc. (NYSE:COR)

Victory Capital Management Inc. lessened its position in Cencora, Inc. (NYSE:COR - Free Report) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 204,080 shares of the company's stock after selling 9,310 shares during the period. Victory Capital Management Inc. owned 0.10% of Cencora worth $45,934,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora in the 1st quarter valued at approximately $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in Cencora during the 1st quarter valued at $1,199,695,000. Boston Partners purchased a new stake in Cencora during the first quarter valued at $1,001,269,000. Capital Research Global Investors bought a new position in shares of Cencora in the 1st quarter worth approximately $650,424,000. Finally, Bessemer Group Inc. purchased a new position in shares of Cencora during the 1st quarter worth $556,245,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of the business'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 completion of the transaction, the chairman now owns 285,088 shares of the company's stock, valued at $67,223,750.40. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COR shares. JPMorgan Chase & Co. increased their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Wells Fargo & Company upped their price target 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. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Leerink Partners dropped 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, Bank of America reissued a "neutral" rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Cencora presently has an average rating of "Moderate Buy" and a consensus price target of $271.20.

Cencora Trading Down 1.1 %

NYSE:COR traded down $2.61 during midday trading on Friday, hitting $240.24. The stock had a trading volume of 1,844,676 shares, compared to its average volume of 1,410,016. The stock has a 50-day moving average of $232.62 and a 200 day moving average of $231.03. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a one year low of $194.23 and a one year high of $251.56. 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. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is an increase from Cencora's previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. 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.