Cencora, Inc. (NYSE:COR) Stock Holdings Lessened by Advisors Asset Management Inc.

Advisors Asset Management Inc. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,764 shares of the company’s stock after selling 253 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cencora were worth $3,773,000 at the end of the most recent reporting period.

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

Cencora Stock Down 0.3 %

Cencora stock opened at $245.02 on Friday. The company has a market capitalization of $48.28 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 1-year low of $195.83 and a 1-year high of $251.56. The firm’s fifty day simple moving average is $233.12 and its 200-day simple moving average is $231.47. 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 declared 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. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 29.29%.

Insider Transactions 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, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on COR. Leerink Partners cut 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. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Bank of America reissued a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

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.