Premier Fund Managers Ltd Buys Shares of 39,950 Cencora, Inc. (NYSE:COR)

Premier Fund Managers Ltd purchased a new position in shares of Cencora, Inc. (NYSE:COR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 39,950 shares of the company’s stock, valued at approximately $8,982,000.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD purchased a new position in Cencora during the 1st quarter valued at about $2,183,619,000. Boston Partners acquired a new stake in shares of Cencora during the first quarter worth about $1,001,269,000. Capital Research Global Investors purchased a new position in shares of Cencora in the first quarter valued at approximately $650,424,000. Legal & General Group Plc grew its holdings in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after purchasing an additional 67,287 shares in the last quarter. Finally, Swedbank AB increased its stake in Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COR shares. Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Stock Performance

Shares of Cencora stock opened at $240.97 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 52 week low of $194.56 and a 52 week high of $251.56. The firm’s 50 day moving average is $232.75 and its two-hundred day moving average is $231.17. The firm has a market capitalization of $47.48 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is 29.29%.

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 stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is owned by company insiders.

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.