Cencora, Inc. (NYSE:COR) Stake Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Cencora, Inc. (NYSE:COR) by 65.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,984 shares of the company’s stock after selling 5,726 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cencora were worth $672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC grew its holdings in shares of Cencora by 1.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares in the last quarter. Financial Advocates Investment Management increased its holdings in shares of Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Cencora by 1.0% in the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after purchasing an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

NYSE COR opened at $249.69 on Friday. The company has a market cap of $49.20 billion, a P/E ratio of 33.25, a P/E/G ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a 1 year low of $195.83 and a 1 year high of $251.56. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. The company has a fifty day simple moving average of $234.44 and a 200 day simple moving average of $232.26.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on 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 sale, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 93,018 shares of company stock worth $22,478,942. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

COR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company boosted their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Evercore ISI lifted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Leerink Partners dropped their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Cencora currently 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.