Commerce Bank Has $5.07 Million Position in Cencora, Inc. (NYSE:COR)

Commerce Bank raised its stake in Cencora, Inc. (NYSE:COR) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,507 shares of the company’s stock after buying an additional 114 shares during the quarter. Commerce Bank’s holdings in Cencora were worth $5,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. New Millennium Group LLC purchased a new stake in shares of Cencora during the 2nd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new position in Cencora during the second quarter worth $30,000. Concord Wealth Partners bought a new position in Cencora during the third quarter valued at about $30,000. LRI Investments LLC acquired a new stake in shares of Cencora in the first quarter worth about $31,000. Finally, SYSTM Wealth Solutions LLC bought a new stake in shares of Cencora during the 2nd quarter worth about $36,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on COR. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI raised their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Cencora has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on 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 directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.80% of the stock is currently owned by insiders.

Cencora Stock Performance

Shares of NYSE COR opened at $245.50 on Friday. The firm has a market capitalization of $48.38 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 1.60 and a beta of 0.44. 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 business has a fifty day simple moving average of $232.96 and a 200 day simple moving average of $231.37. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s dividend 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.