First Commonwealth Financial Corp PA Acquires 70 Shares of Cencora, Inc. (NYSE:COR)

First Commonwealth Financial Corp PA lifted its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,606 shares of the company’s stock after buying an additional 70 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Cencora were worth $812,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners purchased a new stake in shares of Cencora during the first quarter valued at approximately $1,001,269,000. Pacer Advisors Inc. boosted its holdings in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares during the period. Legal & General Group Plc increased its holdings in Cencora by 3.7% during the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after purchasing an additional 67,287 shares during the period. Swedbank AB lifted its holdings in Cencora by 2.3% in the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock worth $313,863,000 after buying an additional 31,104 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cencora by 10.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock valued at $284,544,000 after buying an additional 119,927 shares during the period. 97.52% of the stock is owned by institutional investors.

Cencora Trading Down 0.0 %

Shares of Cencora stock traded down $0.04 on Wednesday, reaching $248.41. The company had a trading volume of 26,139 shares, compared to its average volume of 1,392,684. The firm has a market cap of $48.95 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 1.63 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. The firm’s 50-day moving average price is $233.56 and its two-hundred day moving average price is $232.01. Cencora, Inc. has a 1 year low of $195.83 and a 1 year high of $251.56.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.89%. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at $79,670,111.29. This represents a 13.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 93,018 shares of company stock valued at $22,478,942. Company insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on COR shares. Robert W. Baird upped their price target on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted 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. Leerink Partners reduced their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Bank of America restated a “neutral” rating and issued a $245.00 price target (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

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.