Intech Investment Management LLC Has $16.43 Million Holdings in Cencora, Inc. (NYSE:COR)

Intech Investment Management LLC boosted its holdings in Cencora, Inc. (NYSE:COR) by 12.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 73,012 shares of the company’s stock after purchasing an additional 8,091 shares during the quarter. Intech Investment Management LLC’s holdings in Cencora were worth $16,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Cencora by 4.1% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 357,299 shares of the company’s stock valued at $80,421,000 after buying an additional 14,050 shares during the last quarter. Moran Wealth Management LLC lifted its stake in Cencora by 4.0% during the 3rd quarter. Moran Wealth Management LLC now owns 76,490 shares of the company’s stock valued at $17,216,000 after acquiring an additional 2,976 shares in the last quarter. Portfolio Design Labs LLC bought a new stake in shares of Cencora in the 3rd quarter worth $1,404,000. Howe & Rusling Inc. raised its holdings in shares of Cencora by 0.3% in the third quarter. Howe & Rusling Inc. now owns 20,162 shares of the company’s stock valued at $4,538,000 after purchasing an additional 66 shares during the last quarter. Finally, Commerce Bank lifted its position in shares of Cencora by 0.5% during the third quarter. Commerce Bank now owns 22,507 shares of the company’s stock valued at $5,066,000 after purchasing an additional 114 shares in the last quarter. 97.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on COR shares. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, UBS Group boosted their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Trading Up 0.9 %

Shares of Cencora stock opened at $243.20 on Thursday. 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 market capitalization of $47.92 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The stock’s 50-day simple moving average is $232.82 and its 200 day simple moving average is $231.29.

Cencora Increases Dividend

The firm also recently declared 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. 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%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is presently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the 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 sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.80% of the stock is 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.