Premier Fund Managers Ltd Takes $8.98 Million Position in Cencora, Inc. (NYSE:COR)

Premier Fund Managers Ltd bought a new stake in Cencora, Inc. (NYSE:COR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 39,950 shares of the company’s stock, valued at approximately $8,982,000.

Several other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new stake in Cencora during the 1st quarter valued at approximately $2,183,619,000. Boston Partners purchased a new stake in shares of Cencora during the first quarter worth approximately $1,001,269,000. Capital Research Global Investors acquired a new stake in shares of Cencora during the first quarter worth $650,424,000. Janus Henderson Group PLC acquired a new stake in shares of Cencora during the first quarter worth $223,970,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Cencora in the 1st quarter valued at $128,825,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’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 transaction, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 15.80% of the company’s stock.

Cencora Stock Performance

NYSE COR opened at $240.97 on Wednesday. The business has a 50 day moving average price of $232.75 and a 200 day moving average price of $231.17. 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 company has a market capitalization of $47.48 billion, a P/E ratio of 32.09, a PEG ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 1-year low of $194.56 and a 1-year high of $251.56.

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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Cencora Company 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.