Cencora, Inc. (NYSE:COR) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Cencora, Inc. (NYSE:COR) by 28.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,499 shares of the company’s stock after purchasing an additional 24,492 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cencora were worth $24,871,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. New Millennium Group LLC purchased a new stake in shares of Cencora during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new stake in Cencora in the second quarter valued at approximately $30,000. Concord Wealth Partners purchased a new stake in shares of Cencora during the third quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in shares of Cencora during the first quarter worth $31,000. Finally, SYSTM Wealth Solutions LLC purchased a new position in shares of Cencora in the second quarter valued at $36,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity

In related news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Leerink Partners cut their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Evercore ISI upped their target price on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird raised their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Trading Down 0.8 %

NYSE COR opened at $240.97 on Wednesday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a one year low of $194.56 and a one year high of $251.56. The company has a 50-day simple moving average of $232.75 and a 200-day simple moving average of $231.17. The firm has a market capitalization of $47.48 billion, a PE ratio of 32.09, 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. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, November 15th. Cencora’s payout ratio 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.