Navellier & Associates Inc. Sells 1,205 Shares of Cencora, Inc. (NYSE:COR)

Navellier & Associates Inc. decreased its holdings in Cencora, Inc. (NYSE:COR) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 19,277 shares of the company’s stock after selling 1,205 shares during the period. Navellier & Associates Inc.’s holdings in Cencora were worth $4,339,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its stake in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after acquiring an additional 2,035,679 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Cencora by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,197,159 shares of the company’s stock valued at $269,457,000 after purchasing an additional 5,498 shares during the period. Integrated Investment Consultants LLC purchased a new position in shares of Cencora in the third quarter worth $4,216,000. Trustmark National Bank Trust Department boosted its position in Cencora by 4.8% during the 3rd quarter. Trustmark National Bank Trust Department now owns 5,690 shares of the company’s stock valued at $1,281,000 after buying an additional 262 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Cencora by 12.5% during the third quarter. Intech Investment Management LLC now owns 73,012 shares of the company’s stock valued at $16,434,000 after acquiring an additional 8,091 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred 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 owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 15.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on COR. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America restated a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price 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. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Price Performance

Shares of NYSE COR opened at $244.60 on Thursday. The company has a 50 day simple moving average of $232.96 and a two-hundred day simple moving average of $231.37. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $251.56. The company has a market capitalization of $48.20 billion, a price-to-earnings ratio of 32.38, a P/E/G ratio of 1.60 and a beta of 0.44. 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 disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 yield of 0.90%. 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 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.