Public Sector Pension Investment Board Buys 2,400 Shares of Cencora, Inc. (NYSE:COR)

Public Sector Pension Investment Board increased its stake in shares of Cencora, Inc. (NYSE:COR) by 53.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,908 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cencora were worth $1,555,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New Millennium Group LLC acquired a new position in Cencora in the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new position in shares of Cencora in the second quarter valued at about $30,000. Concord Wealth Partners bought a new position in Cencora during the third quarter worth about $30,000. SYSTM Wealth Solutions LLC acquired a new stake in Cencora in the 2nd quarter worth about $36,000. Finally, Ashton Thomas Securities LLC bought a new stake in Cencora in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Stock Down 0.4 %

COR stock opened at $243.32 on Friday. The firm has a 50-day moving average price of $237.12 and a 200-day moving average price of $233.34. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $253.27. 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 stock has a market capitalization of $47.03 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.45.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 0.90%. Cencora’s dividend payout ratio is presently 29.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COR shares. Mizuho assumed coverage on shares of Cencora in a report on Wednesday. They set an “outperform” rating and a $280.00 target price on the stock. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Evercore ISI increased their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. 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. Finally, Robert W. Baird upped their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $276.80.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 93,018 shares of company stock worth $22,478,942 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

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.