Verition Fund Management LLC Has $6.64 Million Stock Position in Cencora, Inc. (NYSE:COR)

Verition Fund Management LLC cut its holdings in Cencora, Inc. (NYSE:COR) by 41.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,499 shares of the company’s stock after selling 21,145 shares during the quarter. Verition Fund Management LLC’s holdings in Cencora were worth $6,640,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in shares of Cencora by 5.3% during the third quarter. Rockefeller Capital Management L.P. now owns 116,120 shares of the company’s stock worth $26,137,000 after purchasing an additional 5,840 shares during the period. Vinva Investment Management Ltd grew its position in Cencora by 172.9% during the third quarter. Vinva Investment Management Ltd now owns 8,182 shares of the company’s stock worth $1,840,000 after buying an additional 5,184 shares in the last quarter. Financial Counselors Inc. increased its stake in Cencora by 20.2% during the 3rd quarter. Financial Counselors Inc. now owns 1,284 shares of the company’s stock worth $289,000 after acquiring an additional 216 shares during the period. Public Sector Pension Investment Board raised its holdings in Cencora by 53.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock valued at $1,555,000 after acquiring an additional 2,400 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cencora by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company’s stock valued at $349,372,000 after acquiring an additional 18,782 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Stock Performance

Cencora stock opened at $251.55 on Monday. The business has a 50 day moving average of $234.91 and a 200-day moving average of $232.61. 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, Inc. has a 1 year low of $195.83 and a 1 year high of $253.27. The company has a market capitalization of $49.57 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.67 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Analysts Set New Price Targets

COR has been the subject of a number of analyst reports. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. UBS Group upped 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. Bank of America reissued a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $271.20.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 93,018 shares of company stock valued at $22,478,942 over the last 90 days. 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.