Vaughan Nelson Investment Management L.P. Raises Stake in Cencora, Inc. (NYSE:COR)

Vaughan Nelson Investment Management L.P. grew its stake in shares of Cencora, Inc. (NYSE:COR) by 43.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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. owned 0.10% of Cencora worth $42,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lake Street Advisors Group LLC increased its stake in shares of Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management grew its holdings in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after purchasing an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Cencora Stock Down 1.1 %

NYSE COR opened at $240.24 on Friday. The stock has a 50 day moving average price of $232.62 and a 200-day moving average price of $231.03. Cencora, Inc. has a one year low of $194.23 and a one year high of $251.56. The company 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 quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The firm also recently disclosed 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 a boost 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%. The ex-dividend date is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COR. Robert W. Baird raised their price objective on Cencora from $287.00 to $292.00 and gave the company 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. Wells Fargo & Company increased their price objective 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. Barclays boosted their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Evercore ISI raised their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred on 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 transaction, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. The trade was a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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.