Huntington National Bank Sells 222 Shares of Cencora, Inc. (NYSE:COR)

Huntington National Bank trimmed its holdings in Cencora, Inc. (NYSE:COR) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,079 shares of the company’s stock after selling 222 shares during the quarter. Huntington National Bank’s holdings in Cencora were worth $3,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in COR. Kingsview Wealth Management LLC purchased a new stake in shares of Cencora during the 1st quarter worth approximately $681,000. Blair William & Co. IL bought a new position in shares of Cencora in the 1st quarter worth $5,520,000. Orion Portfolio Solutions LLC purchased a new stake in shares of Cencora during the 1st quarter valued at $3,026,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Cencora in the first quarter worth $288,000. Finally, 1ST Source Bank purchased a new position in Cencora in the 1st quarter worth $210,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on COR. Wells Fargo & Company raised their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Barclays raised their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Leerink Partners reduced their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Evercore ISI boosted their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Price Performance

COR stock opened at $243.41 on Friday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The stock has a 50-day simple moving average of $232.38 and a 200-day simple moving average of $231.00. The firm has a market cap of $47.96 billion, a P/E ratio of 32.41, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $251.56.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.90%. Cencora’s dividend payout ratio (DPR) is 27.16%.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.80% of the company’s stock.

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.