First Horizon Advisors Inc. Cuts Position in Cencora, Inc. (NYSE:COR)

First Horizon Advisors Inc. lowered its holdings in Cencora, Inc. (NYSE:COR) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,809 shares of the company’s stock after selling 530 shares during the period. First Horizon Advisors Inc.’s holdings in Cencora were worth $2,433,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Howe & Rusling Inc. increased its holdings in Cencora by 0.3% in the 3rd quarter. Howe & Rusling Inc. now owns 20,162 shares of the company’s stock valued at $4,538,000 after purchasing an additional 66 shares in the last quarter. Commerce Bank boosted its position in shares of Cencora by 0.5% in the third quarter. Commerce Bank now owns 22,507 shares of the company’s stock worth $5,066,000 after buying an additional 114 shares during the period. Northwest Bancshares Inc. acquired a new stake in shares of Cencora in the third quarter valued at about $5,319,000. Premier Fund Managers Ltd purchased a new stake in shares of Cencora during the 3rd quarter valued at about $8,982,000. Finally, Avior Wealth Management LLC lifted its position in Cencora by 66.5% during the 3rd quarter. Avior Wealth Management LLC now owns 6,004 shares of the company’s stock worth $1,351,000 after acquiring an additional 2,398 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 0.9 %

NYSE COR opened at $243.20 on Thursday. The firm has a market capitalization of $47.92 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56. The company has a 50-day simple moving average of $232.82 and a 200-day simple moving average of $231.29. 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 Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COR. Robert W. Baird increased their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI boosted 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. UBS Group raised their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.20.

Insider Buying and Selling

In other 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 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 legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.80% of the company’s stock.

Cencora 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.