Cencora, Inc. (NYSE:COR) Shares Bought by Two Sigma Advisers LP

Two Sigma Advisers LP grew its stake in Cencora, Inc. (NYSE:COR) by 21.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,638,400 shares of the company’s stock after purchasing an additional 292,600 shares during the period. Cencora makes up about 0.9% of Two Sigma Advisers LP’s holdings, making the stock its 24th largest holding. Two Sigma Advisers LP owned approximately 0.83% of Cencora worth $368,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC acquired a new stake in Cencora during the second quarter worth $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Cencora during the 2nd quarter worth about $30,000. Concord Wealth Partners purchased a new stake in Cencora in the 3rd quarter valued at about $30,000. SYSTM Wealth Solutions LLC acquired a new position in Cencora in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in Cencora during the third quarter worth about $41,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 93,018 shares of company stock valued at $22,478,942 in the last three months. 15.80% of the stock is currently owned by company insiders.

Cencora Stock Down 1.6 %

COR stock opened at $244.31 on Friday. The stock has a market cap of $48.14 billion, a P/E ratio of 32.53, a PEG ratio of 1.66 and a beta of 0.45. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora, Inc. has a twelve month low of $195.83 and a twelve month high of $253.27. The company’s 50 day moving average is $236.75 and its two-hundred day moving average is $233.19.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given 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 dividend yield of 0.90%. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is 29.29%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COR. Bank of America reaffirmed a “neutral” rating and set a $245.00 price objective (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Barclays raised their price target on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners decreased 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. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average price target of $276.80.

Cencora 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.