Cencora, Inc. (NYSE:COR) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Cencora, Inc. (NYSE:COR) by 92.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,304 shares of the company’s stock after purchasing an additional 36,754 shares during the period. Empowered Funds LLC’s holdings in Cencora were worth $17,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Cencora in the second quarter valued at about $26,000. TCTC Holdings LLC acquired a new position in Cencora in the 1st quarter worth about $29,000. TFO Wealth Partners LLC purchased a new position in Cencora during the first quarter worth approximately $30,000. MFA Wealth Advisors LLC purchased a new stake in shares of Cencora in the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners acquired a new stake in Cencora in the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on COR shares. Bank of America restated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target 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. Evercore ISI upped their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the business’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 transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.80% of the stock is owned by company insiders.

Cencora Trading Down 0.6 %

NYSE COR opened at $241.38 on Friday. Cencora, Inc. has a 12 month low of $194.23 and a 12 month high of $251.56. The company has a market capitalization of $47.56 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm’s fifty day moving average price is $232.38 and its 200 day moving average price is $231.00.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.91%. Cencora’s payout ratio is 27.16%.

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.