Mizuho Securities USA LLC Raises Position in Cencora, Inc. (NYSE:COR)

Mizuho Securities USA LLC boosted its position in Cencora, Inc. (NYSE:COR) by 167.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,110 shares of the company’s stock after purchasing an additional 21,351 shares during the period. Mizuho Securities USA LLC’s holdings in Cencora were worth $7,677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora during the 1st quarter valued at $2,183,619,000. Boston Partners purchased a new stake in Cencora during the first quarter valued at about $1,001,269,000. Capital Research Global Investors bought a new position in Cencora during the first quarter worth about $650,424,000. Bessemer Group Inc. purchased a new position in shares of Cencora in the first quarter worth about $556,245,000. Finally, Legal & General Group Plc raised its position in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after purchasing an additional 67,287 shares during the period. 97.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on COR shares. 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 report on Thursday, August 1st. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. UBS Group raised their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird upped their price target on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Cencora Stock Down 1.1 %

Shares of Cencora stock opened at $240.24 on Friday. The company has a 50-day moving average of $232.62 and a 200 day moving average of $231.03. Cencora, Inc. has a 1 year low of $194.23 and a 1 year high of $251.56. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio is currently 29.29%.

Insider Activity

In related 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 transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

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.