Russell Investments Group Ltd. grew its position in Cencora, Inc. (NYSE:COR – Free Report) by 11.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 138,219 shares of the company’s stock after buying an additional 13,953 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Cencora worth $26,562,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Cencora by 7.4% in the first quarter. Vanguard Group Inc. now owns 18,411,527 shares of the company’s stock worth $2,848,446,000 after acquiring an additional 1,269,147 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Cencora by 145.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,257,332 shares of the company’s stock worth $1,642,302,000 after buying an additional 6,086,040 shares during the period. State Street Corp boosted its holdings in shares of Cencora by 0.4% in the first quarter. State Street Corp now owns 7,419,026 shares of the company’s stock valued at $1,187,860,000 after buying an additional 29,722 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cencora by 7.7% during the first quarter. JPMorgan Chase & Co. now owns 7,002,190 shares of the company’s stock worth $1,121,122,000 after acquiring an additional 499,465 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Cencora by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 3,394,836 shares of the company’s stock valued at $542,356,000 after acquiring an additional 138,287 shares in the last quarter. Institutional investors own 93.12% of the company’s stock.
Insiders Place Their Bets
In related news, CEO Steven H. Collis sold 25,000 shares of Cencora stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total transaction of $4,627,000.00. Following the sale, the chief executive officer now directly owns 257,967 shares of the company’s stock, valued at approximately $47,744,532.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cencora news, EVP Gina Clark sold 10,695 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $187.00, for a total value of $1,999,965.00. Following the sale, the executive vice president now owns 16,038 shares in the company, valued at approximately $2,999,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $185.08, for a total value of $4,627,000.00. Following the completion of the sale, the chief executive officer now owns 257,967 shares in the company, valued at $47,744,532.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,343,672 shares of company stock valued at $262,243,280. 1.40% of the stock is currently owned by corporate insiders.
Cencora Stock Performance
Cencora Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from Cencora’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 1.04%. Cencora’s dividend payout ratio (DPR) is 23.92%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on COR shares. TheStreet upgraded Cencora from a “c” rating to a “b” rating in a report on Monday, October 9th. Evercore ISI increased their price objective on shares of Cencora from $210.00 to $225.00 in a research note on Wednesday, October 11th. TD Cowen lifted their target price on Cencora from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Morgan Stanley increased their price target on Cencora from $176.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Cencora in a report on Sunday, October 1st. They set a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.08.
Cencora Company Profile
Cencora, Inc sources and distributes pharmaceutical products. Its 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.
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