Glenmede Trust Co. NA Purchases 140,641 Shares of Cencora, Inc. (NYSE:COR)

Glenmede Trust Co. NA lifted its holdings in Cencora, Inc. (NYSE:COR) by 254.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,871 shares of the company’s stock after acquiring an additional 140,641 shares during the quarter. Glenmede Trust Co. NA’s holdings in Cencora were worth $44,087,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Kingswood Wealth Advisors LLC acquired a new position in Cencora in the second quarter worth $655,000. Czech National Bank grew its holdings in Cencora by 8.3% during the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares during the last quarter. Mackenzie Financial Corp increased its position in Cencora by 9.9% in the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after acquiring an additional 7,266 shares in the last quarter. Portfolio Design Labs LLC bought a new position in shares of Cencora in the third quarter worth about $1,404,000. Finally, HM Payson & Co. acquired a new position in shares of Cencora during the first quarter worth approximately $708,000. 97.52% of the stock is currently owned by institutional investors.

Cencora Trading Up 1.7 %

NYSE:COR opened at $248.40 on Wednesday. The business’s 50-day simple moving average is $233.56 and its 200-day simple moving average is $232.01. Cencora, Inc. has a fifty-two week low of $195.83 and a fifty-two week high of $251.56. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market capitalization of $48.95 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44.

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 issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

Insider Activity

In related news, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the sale, the chairman now directly owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 93,018 shares of company stock worth $22,478,942 over the last quarter. 15.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COR. Leerink Partners reduced 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. UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. 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. Finally, Evercore ISI upped their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, 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.