Swiss National Bank Increases Stake in Cencora, Inc. (NYSE:COR)

Swiss National Bank increased its position in shares of Cencora, Inc. (NYSE:COR) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 532,800 shares of the company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank’s holdings in Cencora were worth $119,923,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora in the 1st quarter valued at approximately $2,183,619,000. Boston Partners purchased a new position in shares of Cencora in the 1st quarter valued at approximately $1,001,269,000. Capital Research Global Investors purchased a new position in shares of Cencora in the 1st quarter valued at approximately $650,424,000. Janus Henderson Group PLC purchased a new position in shares of Cencora in the 1st quarter valued at approximately $223,970,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Cencora in the 1st quarter valued at approximately $128,825,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Trading Up 1.1 %

Shares of COR opened at $242.87 on Tuesday. Cencora, Inc. has a 52-week low of $194.56 and a 52-week high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The firm’s fifty day moving average is $232.62 and its two-hundred day moving average is $231.04. The stock has a market cap of $47.86 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 27.16%.

Analyst Ratings Changes

COR has been the subject of a number of recent research reports. Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Evercore ISI raised their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group raised their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.80% of the stock is currently owned by corporate insiders.

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.