Vaughan Nelson Investment Management L.P. Purchases 57,873 Shares of Cencora, Inc. (NYSE:COR)

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Cencora, Inc. (NYSE:COR) by 43.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 189,746 shares of the company’s stock after buying an additional 57,873 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Cencora were worth $42,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Natixis Advisors LLC increased its stake in Cencora by 3.9% in the third quarter. Natixis Advisors LLC now owns 139,028 shares of the company’s stock worth $31,292,000 after purchasing an additional 5,198 shares during the period. Mizuho Securities USA LLC increased its stake in Cencora by 167.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 34,110 shares of the company’s stock worth $7,677,000 after buying an additional 21,351 shares during the period. Coastline Trust Co bought a new stake in Cencora during the 3rd quarter valued at about $168,000. Empirical Finance LLC boosted its position in Cencora by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 5,499 shares of the company’s stock valued at $1,238,000 after buying an additional 114 shares during the period. Finally, Empowered Funds LLC grew its stake in Cencora by 92.9% in the 3rd quarter. Empowered Funds LLC now owns 76,304 shares of the company’s stock worth $17,175,000 after acquiring an additional 36,754 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COR. Bank of America reaffirmed a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays raised their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI upped their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Trading Down 1.1 %

NYSE COR opened at $240.24 on Friday. The firm has a market cap of $47.34 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44. Cencora, Inc. has a 52 week low of $194.23 and a 52 week high of $251.56. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The company has a 50 day moving average price of $232.62 and a 200 day moving average price of $231.03.

Cencora Increases Dividend

The firm 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 dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 15th. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 29.29%.

Insider Transactions at Cencora

In other Cencora 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 completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.80% of the company’s stock.

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.