Worldquant Millennium Advisors LLC Grows Stake in Cencora, Inc. (NYSE:COR)

Worldquant Millennium Advisors LLC grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 2,366.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 270,953 shares of the company’s stock after purchasing an additional 259,966 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Cencora were worth $60,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC grew its stake in shares of Cencora by 1.3% during 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 raised its holdings 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 buying an additional 44 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after buying an additional 46 shares during the period. 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 valued at $848,000 after buying an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased 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 during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on COR shares. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Mizuho started coverage on shares of Cencora in a research note on Wednesday. They set an “outperform” rating and a $280.00 price objective for the company. 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. Finally, Bank of America restated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $276.80.

Cencora Trading Down 1.6 %

Shares of Cencora stock opened at $244.31 on Friday. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $253.27. The firm’s 50-day moving average price is $236.75 and its 200 day moving average price is $233.19. 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 capitalization of $47.22 billion, a PE ratio of 32.53, a P/E/G ratio of 1.66 and a beta of 0.45.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. Cencora’s payout ratio is currently 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.