Cencora, Inc. (NYSE:COR) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced 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 and Exchange Commission (SEC). The institutional investor owned 16,764 shares of the company’s stock after selling 253 shares during the period. Advisors Asset Management Inc.’s holdings in Cencora were worth $3,773,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Covestor Ltd acquired a new stake in Cencora during the first quarter valued at approximately $55,000. EntryPoint Capital LLC bought a new position in Cencora during the first quarter worth $75,000. EP Wealth Advisors LLC bought a new position in Cencora during the first quarter worth $650,000. Canada Pension Plan Investment Board acquired a new position in Cencora in the first quarter worth $28,137,000. Finally, Gabelli Funds LLC bought a new stake in Cencora during the first quarter valued at $14,093,000. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COR shares. 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. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased 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. Finally, StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Stock Performance

Shares of COR opened at $245.02 on Friday. The firm has a market capitalization of $48.28 billion, a PE ratio of 32.63, a P/E/G ratio of 1.60 and a beta of 0.44. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm has a 50-day moving average price of $233.12 and a 200 day moving average price of $231.47. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Buying and Selling

In related 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 completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.80% of the stock is owned by corporate 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.