Cencora, Inc. (NYSE:COR) Stock Holdings Increased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 528,784 shares of the company’s stock after purchasing an additional 28,542 shares during the period. Cencora comprises approximately 1.8% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. TimesSquare Capital Management LLC’s holdings in Cencora were worth $119,019,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC purchased a new stake in shares of Cencora during the 3rd quarter worth about $908,000. Axxcess Wealth Management LLC grew its holdings in Cencora by 9.5% in the third quarter. Axxcess Wealth Management LLC now owns 10,389 shares of the company’s stock valued at $2,338,000 after purchasing an additional 901 shares during the period. Bridges Investment Management Inc. increased its position in shares of Cencora by 16.1% in the third quarter. Bridges Investment Management Inc. now owns 1,639 shares of the company’s stock valued at $369,000 after buying an additional 227 shares in the last quarter. Assetmark Inc. raised its stake in shares of Cencora by 33.8% during the 3rd quarter. Assetmark Inc. now owns 2,536 shares of the company’s stock worth $571,000 after buying an additional 641 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in shares of Cencora by 19.6% during the 3rd quarter. Verdence Capital Advisors LLC now owns 28,183 shares of the company’s stock valued at $6,343,000 after buying an additional 4,612 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Price Performance

COR stock opened at $248.41 on Friday. The business’s 50-day moving average is $231.95 and its two-hundred day moving average is $230.79. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.55. The firm has a market capitalization of $48.95 billion, a P/E ratio of 33.08, a P/E/G ratio of 1.55 and a beta of 0.44. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $251.00.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. 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 27.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on COR shares. Barclays raised their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Leerink Partners decreased their target price on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.80% of the stock is owned by company insiders.

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.