Investment Management Corp of Ontario Raises Position in Cencora, Inc. (NYSE:COR)

Investment Management Corp of Ontario boosted its position in Cencora, Inc. (NYSE:COR) by 28.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 34,556 shares of the company’s stock after purchasing an additional 7,753 shares during the period. Investment Management Corp of Ontario’s holdings in Cencora were worth $7,778,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kingswood Wealth Advisors LLC bought a new position in shares of Cencora during the 2nd quarter worth $655,000. Czech National Bank boosted its stake in Cencora by 8.3% during the second quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after buying an additional 2,414 shares during the period. Cerity Partners LLC raised its position in Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock valued at $8,881,000 after purchasing an additional 3,610 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Cencora by 9.9% during the second quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after purchasing an additional 7,266 shares during the last quarter. Finally, Portfolio Design Labs LLC purchased a new stake in shares of Cencora in the third quarter valued at about $1,404,000. 97.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Barclays upped their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America restated a “neutral” rating and issued a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Up 0.5 %

Shares of NYSE COR opened at $251.00 on Tuesday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $253.27. The company’s 50 day moving average price is $235.35 and its 200-day moving average price is $232.80. The company has a market capitalization of $49.46 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.67 and a beta of 0.45.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.88%. Cencora’s dividend payout ratio is currently 29.29%.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders have sold 93,018 shares of company stock valued at $22,478,942. Corporate insiders own 15.80% of the company’s stock.

About Cencora

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.