Cencora, Inc. (NYSE:COR) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in Cencora, Inc. (NYSE:COR) by 3.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,935 shares of the company’s stock after acquiring an additional 691 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cencora were worth $5,162,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC boosted its stake in shares of Cencora by 1.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after buying an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Leerink Partners decreased their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Barclays lifted their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI boosted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Stock Up 1.7 %

Shares of COR opened at $248.40 on Wednesday. The company’s 50-day moving average price is $233.28 and its 200 day moving average price is $231.85. Cencora, Inc. has a 12-month low of $195.83 and a 12-month high of $251.56. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The firm has a market cap of $48.95 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. Cencora’s payout ratio is presently 29.29%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 93,018 shares of company stock worth $22,478,942 over the last ninety days. Corporate insiders own 15.80% of the company’s stock.

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.