Metis Global Partners LLC Grows Stock Position in Cencora, Inc. (NYSE:COR)

Metis Global Partners LLC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,719 shares of the company’s stock after acquiring an additional 175 shares during the quarter. Metis Global Partners LLC’s holdings in Cencora were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Lake Street Advisors Group LLC grew its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares during the period. Financial Advocates Investment Management increased its position in shares of Cencora by 4.7% during 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 last quarter. Venturi Wealth Management LLC raised its holdings in Cencora by 1.0% in the 3rd 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 during the period. Prime Capital Investment Advisors LLC raised its stake in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after acquiring an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Cencora Price Performance

Shares of NYSE COR opened at $240.24 on Friday. The firm has a fifty day moving average of $232.62 and a 200 day moving average of $231.08. Cencora, Inc. has a one year low of $194.23 and a one year high of $251.56. The firm has a market cap of $47.34 billion, a PE ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase 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 29.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COR shares. Barclays boosted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Robert W. Baird upped 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. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Finally, Evercore ISI increased their target price on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 15.80% of the company’s stock.

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.