Swiss National Bank Buys 1,300 Shares of Cencora, Inc. (NYSE:COR)

Swiss National Bank lifted its stake in Cencora, Inc. (NYSE:COR) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 532,800 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. Swiss National Bank owned about 0.27% of Cencora worth $119,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC purchased a new position in Cencora in the 2nd quarter worth approximately $655,000. Lake Street Advisors Group LLC purchased a new position in Cencora in the 1st quarter worth approximately $836,000. Czech National Bank raised its holdings in Cencora by 8.3% in the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares during the last quarter. Natixis purchased a new position in Cencora in the 1st quarter worth approximately $5,842,000. Finally, Gabelli Funds LLC purchased a new position in Cencora in the 1st quarter worth approximately $14,093,000. 97.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora 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 completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Cencora Stock Up 1.1 %

Shares of COR opened at $242.87 on Tuesday. The company has a market cap of $47.86 billion, a PE ratio of 32.34, a P/E/G ratio of 1.60 and a beta of 0.44. The business has a fifty day moving average of $232.62 and a 200 day moving average of $231.04. Cencora, Inc. has a 52-week low of $194.56 and a 52-week high of $251.56. 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 Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio (DPR) is currently 27.16%.

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.