Cencora, Inc. (NYSE:COR) Stake Lessened by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd trimmed its stake in shares of Cencora, Inc. (NYSE:COR) by 11.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,046 shares of the company’s stock after selling 9,619 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Cencora were worth $15,991,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in Cencora in the first quarter valued at about $1,001,269,000. Pacer Advisors Inc. grew its position in shares of Cencora by 6,855.3% in the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after acquiring an additional 2,035,679 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Cencora by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after acquiring an additional 67,287 shares during the last quarter. Swedbank AB raised its position in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after acquiring an additional 31,104 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock worth $284,544,000 after purchasing an additional 119,927 shares during the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COR. Barclays boosted their price objective on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. increased their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Bank of America reissued a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Price Performance

Shares of COR opened at $244.27 on Tuesday. 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 firm has a market cap of $48.13 billion, a PE ratio of 32.53, a PEG ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $251.56. The firm’s 50 day moving average price is $233.28 and its 200 day moving average price is $231.85.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio is 29.29%.

Insider Buying and Selling at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’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 sale, the chairman now 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 filing with the SEC, which is available through this link. Corporate insiders own 15.80% of the company’s stock.

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.