Cencora, Inc. (NYSE:COR) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Cencora, Inc. (NYSE:COR) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,059,456 shares of the company’s stock after purchasing an additional 87,393 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.54% of Cencora worth $238,462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COR. Kingswood Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter worth $655,000. TD Asset Management Inc acquired a new position in Cencora in the 1st quarter valued at about $95,313,000. Lake Street Advisors Group LLC purchased a new position in Cencora in the 1st quarter valued at about $836,000. Czech National Bank lifted its holdings in Cencora by 8.3% in the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock valued at $7,107,000 after purchasing an additional 2,414 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Cencora during the 1st quarter worth about $5,842,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 0.1 %

COR opened at $248.77 on Wednesday. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $251.56. The firm has a 50 day moving average price of $232.24 and a 200 day moving average price of $230.86. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.55 and a current ratio of 0.88. The company has a market cap of $49.02 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is presently 27.16%.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

COR has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America restated a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays raised their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus 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.