Quantbot Technologies LP Buys 49,997 Shares of Cencora, Inc. (NYSE:COR)

Quantbot Technologies LP lifted its holdings in Cencora, Inc. (NYSE:COR) by 61.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,557 shares of the company’s stock after acquiring an additional 49,997 shares during the quarter. Cencora accounts for 1.2% of Quantbot Technologies LP’s holdings, making the stock its biggest position. Quantbot Technologies LP’s holdings in Cencora were worth $29,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COR. The Manufacturers Life Insurance Company raised its position in shares of Cencora by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 503,317 shares of the company’s stock worth $113,287,000 after acquiring an additional 14,079 shares during the period. Truvestments Capital LLC acquired a new stake in Cencora in the 3rd quarter worth about $86,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cencora during the third quarter valued at approximately $974,000. Daiwa Securities Group Inc. lifted its position in shares of Cencora by 3.1% in the third quarter. Daiwa Securities Group Inc. now owns 22,935 shares of the company’s stock valued at $5,162,000 after acquiring an additional 691 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Cencora by 146.1% in the third quarter. Larson Financial Group LLC now owns 1,900 shares of the company’s stock worth $428,000 after acquiring an additional 1,128 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the sale, the chairman now directly owns 306,752 shares in the company, valued at $74,283,064.32. This represents a 6.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their price target 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. Leerink Partners dropped their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Bank of America reaffirmed a “neutral” rating and issued 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Down 0.3 %

Shares of Cencora stock opened at $244.27 on Tuesday. The stock has a 50 day moving average of $233.28 and a 200 day moving average of $231.85. 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 capitalization of $48.13 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $251.56.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given 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 dividend on an annualized basis and a dividend yield of 0.90%. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

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.