Synovus Financial Corp Acquires 1,242 Shares of Cencora, Inc. (NYSE:COR)

Synovus Financial Corp increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,199 shares of the company’s stock after purchasing an additional 1,242 shares during the quarter. Synovus Financial Corp’s holdings in Cencora were worth $3,646,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Bank of Montreal Can lifted its holdings in Cencora by 136.8% during the 2nd quarter. Bank of Montreal Can now owns 641,887 shares of the company’s stock valued at $153,623,000 after purchasing an additional 370,841 shares during the last quarter. American Century Companies Inc. boosted its position in Cencora by 155.0% during the second quarter. American Century Companies Inc. now owns 598,438 shares of the company’s stock worth $134,828,000 after purchasing an additional 363,796 shares during the period. Wellington Management Group LLP increased its holdings in shares of Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Cencora by 21.7% in the third quarter. Two Sigma Advisers LP now owns 1,638,400 shares of the company’s stock valued at $368,771,000 after purchasing an additional 292,600 shares during the period. Institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on COR shares. Evercore ISI lifted their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company decreased their target price on Cencora from $249.00 to $237.00 and set an “equal weight” rating on the stock in a research report on Friday. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target for the company. Barclays upped their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $275.60.

Cencora Stock Up 0.1 %

Shares of COR opened at $232.24 on Friday. The firm has a 50 day simple moving average of $238.36 and a two-hundred day simple moving average of $234.04. 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 one year low of $195.83 and a one year high of $253.27. The company has a market cap of $44.89 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.54 and a beta of 0.45.

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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now owns 306,752 shares of the company’s stock, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 93,018 shares of company stock worth $22,478,942 in the last ninety days. 15.80% of the stock is owned by insiders.

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.