Verition Fund Management LLC Has $6.64 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Verition Fund Management LLC trimmed its position in Cencora, Inc. (NYSE:COR) by 41.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 29,499 shares of the company’s stock after selling 21,145 shares during the period. Verition Fund Management LLC’s holdings in Cencora were worth $6,640,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in COR. New Millennium Group LLC bought a new position in Cencora in the second quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora in the 2nd quarter valued at about $30,000. Concord Wealth Partners bought a new stake in shares of Cencora during the third quarter worth approximately $30,000. SYSTM Wealth Solutions LLC acquired a new position in Cencora in the second quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC bought a new position in Cencora in the third quarter valued at approximately $41,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Stock Performance

Shares of COR stock opened at $251.55 on Monday. The company has a fifty day moving average price of $234.91 and a two-hundred day moving average price of $232.61. Cencora, Inc. has a one year low of $195.83 and a one year high of $253.27. The stock has a market cap of $49.57 billion, a P/E ratio of 33.50, a P/E/G ratio of 1.67 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.87%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Wall Street Analyst Weigh In

COR has been the topic of several recent research reports. Evercore ISI raised 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. 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. Bank of America reiterated a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. UBS Group increased their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.20.

Insiders Place Their Bets

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 stock was sold at an average price of $235.80, for a total transaction 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. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 93,018 shares of company stock valued at $22,478,942 over the last 90 days. 15.80% of the stock is currently owned by insiders.

About Cencora

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.