Quest Partners LLC Lowers Stake in Cencora, Inc. (NYSE:COR)

Quest Partners LLC lessened its stake in Cencora, Inc. (NYSE:COR) by 12.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,840 shares of the company’s stock after selling 1,423 shares during the period. Quest Partners LLC’s holdings in Cencora were worth $2,215,000 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. New Millennium Group LLC bought a new stake in Cencora during the 2nd quarter valued at $26,000. TFO Wealth Partners LLC purchased a new position in Cencora in the first quarter valued at about $30,000. LRI Investments LLC bought a new position in Cencora in the first quarter worth about $31,000. MFA Wealth Advisors LLC purchased a new stake in shares of Cencora during the second quarter valued at about $30,000. Finally, Concord Wealth Partners purchased a new stake in shares of Cencora during the third quarter valued at about $30,000. Institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

COR stock opened at $242.87 on Tuesday. The business’s fifty day moving average price is $232.62 and its 200 day moving average price is $231.04. Cencora, Inc. has a 12-month low of $194.56 and a 12-month high of $251.56. The company has a market capitalization 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 company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

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 paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.91%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s payout ratio is presently 27.16%.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COR shares. Robert W. Baird increased their target price on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America restated a “neutral” rating and set a $245.00 price objective (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. According to MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Company 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.