Investment Management Corp of Ontario Has $7.78 Million Stake in Cencora, Inc. (NYSE:COR)

Investment Management Corp of Ontario raised its holdings in Cencora, Inc. (NYSE:COR) by 28.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,556 shares of the company’s stock after buying an additional 7,753 shares during the period. Investment Management Corp of Ontario’s holdings in Cencora were worth $7,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC purchased a new position in shares of Cencora in the 2nd quarter worth about $655,000. Czech National Bank increased its position in shares of Cencora by 8.3% during the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock valued at $7,107,000 after purchasing an additional 2,414 shares during the last quarter. Cerity Partners LLC boosted its holdings in Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after buying an additional 3,610 shares during the period. Mackenzie Financial Corp increased its stake in Cencora by 9.9% in the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock worth $18,250,000 after acquiring an additional 7,266 shares during the last quarter. Finally, Portfolio Design Labs LLC bought a new stake in shares of Cencora in the 3rd quarter worth about $1,404,000. 97.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on COR. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. UBS Group boosted their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners decreased their price target on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is owned by corporate insiders.

Cencora Price Performance

Shares of NYSE COR opened at $251.00 on Tuesday. The stock has a market capitalization of $49.46 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.67 and a beta of 0.45. The firm’s 50 day simple moving average is $235.35 and its 200-day simple moving average is $232.80. Cencora, Inc. has a 12 month low of $195.83 and a 12 month high of $253.27. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

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.