Pathstone Holdings LLC Lowers Stock Position in Cencora, Inc. (NYSE:COR)

Pathstone Holdings LLC trimmed its position in Cencora, Inc. (NYSE:COR) by 0.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 55,268 shares of the company’s stock after selling 362 shares during the period. Pathstone Holdings LLC’s holdings in Cencora were worth $12,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COR. Kingswood Wealth Advisors LLC bought a new stake in shares of Cencora during the 2nd quarter worth $655,000. Czech National Bank grew its position in shares of Cencora by 8.3% in the second 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 in the last quarter. Natixis purchased a new stake in Cencora during the 1st quarter worth about $5,842,000. Gabelli Funds LLC bought a new position in Cencora in the 1st quarter worth about $14,093,000. Finally, Osaic Holdings Inc. bought a new stake in Cencora during the 1st quarter worth approximately $9,962,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America restated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Cencora has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.80% of the company’s stock.

Cencora Stock Up 0.9 %

Shares of NYSE:COR opened at $243.20 on Thursday. The business has a 50 day simple moving average of $232.82 and a two-hundred day simple moving average of $231.29. Cencora, Inc. has a 1 year low of $195.83 and a 1 year 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 firm has a market capitalization of $47.92 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is 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 dividend yield of 0.90%. Cencora’s dividend payout ratio (DPR) is 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.