HighTower Advisors LLC Has $29.15 Million Position in Cencora, Inc. (NYSE:COR)

HighTower Advisors LLC lessened its stake in shares of Cencora, Inc. (NYSE:COR) by 1.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 129,090 shares of the company’s stock after selling 2,280 shares during the quarter. HighTower Advisors LLC’s holdings in Cencora were worth $29,153,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of COR. Pacer Advisors Inc. increased its position in Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after buying an additional 2,035,679 shares during the period. Legal & General Group Plc increased its position in Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after acquiring an additional 67,287 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cencora by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company’s stock worth $349,372,000 after purchasing an additional 18,782 shares in the last quarter. Swedbank AB grew its position in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after purchasing an additional 31,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock worth $284,544,000 after purchasing an additional 119,927 shares during the period. Institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group increased their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Mizuho began coverage on shares of Cencora in a report on Wednesday. They issued an “outperform” rating and a $280.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and a consensus price target of $276.80.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 93,018 shares of company stock worth $22,478,942. 15.80% of the stock is currently owned by insiders.

Cencora Stock Down 1.6 %

Shares of NYSE:COR opened at $244.31 on Friday. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $253.27. The company has a market capitalization of $48.14 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.66 and a beta of 0.45. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The company has a fifty day moving average of $236.75 and a 200-day moving average of $233.19.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is presently 29.29%.

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.