Massachusetts Financial Services Co. MA Acquires 5,498 Shares of Cencora, Inc. (NYSE:COR)

Massachusetts Financial Services Co. MA increased its holdings in Cencora, Inc. (NYSE:COR) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,197,159 shares of the company’s stock after buying an additional 5,498 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cencora were worth $269,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in Cencora in the 2nd quarter valued at $26,000. LRI Investments LLC acquired a new position in Cencora in the first quarter valued at about $31,000. MFA Wealth Advisors LLC bought a new stake in Cencora during the second quarter worth about $30,000. Concord Wealth Partners acquired a new stake in Cencora during the third quarter worth about $30,000. Finally, SYSTM Wealth Solutions LLC bought a new position in Cencora in the 2nd quarter valued at about $36,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Down 0.3 %

Shares of COR opened at $245.02 on Friday. The business’s 50-day moving average price is $233.12 and its 200-day moving average price is $231.47. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $251.56. The stock has a market cap of $48.28 billion, a PE ratio of 32.63, a P/E/G ratio of 1.60 and a beta of 0.44.

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 represents a $2.20 annualized dividend and a dividend yield of 0.90%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is 29.29%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COR shares. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. UBS Group increased their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred 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 owns 285,088 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 15.80% of the stock is currently owned by insiders.

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.