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

Commerce Bank grew its holdings in Cencora, Inc. (NYSE:COR) by 0.5% in the 3rd quarter, Holdings Channel reports. The fund owned 22,507 shares of the company’s stock after purchasing 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 quarter.

Several other institutional investors have also modified their holdings of COR. Northwest Bancshares Inc. acquired a new stake in shares of Cencora during the third quarter worth $5,319,000. Premier Fund Managers Ltd bought a new stake in shares of Cencora in the third quarter valued at about $8,982,000. Avior Wealth Management LLC boosted its position in shares of Cencora by 66.5% during the third quarter. Avior Wealth Management LLC now owns 6,004 shares of the company’s stock worth $1,351,000 after buying an additional 2,398 shares during the period. West Family Investments Inc. grew its holdings in shares of Cencora by 25.9% during the third quarter. West Family Investments Inc. now owns 3,380 shares of the company’s stock worth $761,000 after buying an additional 696 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Cencora during the third quarter worth $1,648,000. Institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company increased 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. Finally, Barclays increased their price objective on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Cencora Price Performance

Cencora stock opened at $245.50 on Friday. The company has a market cap 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 business’s 50 day simple moving average is $232.96 and its 200 day simple moving average is $231.37. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56.

Cencora Increases Dividend

The company 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 $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s payout ratio is currently 29.29%.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the business’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 approximately $67,223,750.40. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.80% of the stock is owned by company insiders.

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.