Martingale Asset Management L P Has $15.42 Million Position in Cencora, Inc. (NYSE:COR)

Martingale Asset Management L P lowered its stake in Cencora, Inc. (NYSE:COR) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,523 shares of the company’s stock after selling 14,318 shares during the period. Martingale Asset Management L P’s holdings in Cencora were worth $15,423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. Kennedy Capital Management LLC acquired a new stake in shares of Cencora in the first quarter valued at approximately $705,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cencora in the first quarter valued at approximately $2,194,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Cencora in the first quarter valued at approximately $411,000. LRI Investments LLC acquired a new stake in Cencora during the 1st quarter worth $31,000. Finally, Cetera Investment Advisers acquired a new stake in Cencora during the 1st quarter worth $16,625,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.5 %

COR opened at $249.69 on Friday. The stock has a market capitalization of $49.20 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $251.56. The firm’s fifty day simple moving average is $234.44 and its 200 day simple moving average is $232.26. 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 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 $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio is currently 29.29%.

Insider Activity at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. UBS Group lifted their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Bank of America reaffirmed a “neutral” rating and set a $245.00 target price (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Company 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.