BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stake in Cencora, Inc. (NYSE:COR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in shares of Cencora, Inc. (NYSE:COR) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,950 shares of the company’s stock after selling 4,436 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cencora were worth $6,741,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on 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 sale, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. The trade was a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 93,018 shares of company stock valued at $22,478,942 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on COR shares. Robert W. Baird lifted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, UBS Group raised their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. 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 a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Trading Down 0.7 %

Shares of COR stock opened at $249.90 on Tuesday. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $253.27. The company has a market cap of $49.24 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.67 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a 50 day simple moving average of $235.35 and a 200-day simple moving average of $232.80.

Cencora Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. 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.