Victory Capital Management Inc. Lowers Holdings in Cencora, Inc. (NYSE:COR)

Victory Capital Management Inc. trimmed its position in Cencora, Inc. (NYSE:COR) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,080 shares of the company’s stock after selling 9,310 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Cencora worth $45,934,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. First Heartland Consultants Inc. lifted its holdings in shares of Cencora by 3.6% in the 3rd quarter. First Heartland Consultants Inc. now owns 2,288 shares of the company’s stock worth $515,000 after buying an additional 79 shares during the period. Prime Capital Investment Advisors LLC lifted its holdings in shares of Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the period. Savvy Advisors Inc. purchased a new stake in shares of Cencora in the 3rd quarter worth $222,000. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Cencora by 9.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 5,110 shares of the company’s stock worth $1,150,000 after buying an additional 455 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Cencora by 9.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,059,456 shares of the company’s stock worth $238,462,000 after buying an additional 87,393 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.80% of the company’s stock.

Cencora Trading Down 1.1 %

Shares of NYSE:COR opened at $240.24 on Friday. The business’s 50-day moving average is $232.62 and its 200 day moving average is $231.08. Cencora, Inc. has a 1 year low of $194.23 and a 1 year high of $251.56. The firm has a market capitalization of $47.34 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.66 and a beta of 0.44. 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 disclosed 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. The ex-dividend date 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 0.92%. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on COR shares. Wells Fargo & Company boosted their price target on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.20.

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.