Alerus Financial NA Sells 807 Shares of Cencora, Inc. (NYSE:COR)

Alerus Financial NA decreased its position in shares of Cencora, Inc. (NYSE:COR) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,336 shares of the company’s stock after selling 807 shares during the quarter. Alerus Financial NA’s holdings in Cencora were worth $8,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COR. Kingswood Wealth Advisors LLC bought a new position in Cencora during the second quarter worth $655,000. Czech National Bank raised its position in shares of Cencora by 8.3% in the 2nd quarter. Czech National Bank now owns 31,546 shares of the company’s stock worth $7,107,000 after acquiring an additional 2,414 shares in the last quarter. Cerity Partners LLC raised its position in shares of Cencora by 10.1% in the 3rd quarter. Cerity Partners LLC now owns 39,457 shares of the company’s stock worth $8,881,000 after acquiring an additional 3,610 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Cencora by 9.9% in the 2nd quarter. Mackenzie Financial Corp now owns 81,001 shares of the company’s stock valued at $18,250,000 after purchasing an additional 7,266 shares during the period. Finally, Portfolio Design Labs LLC bought a new stake in shares of Cencora during the 3rd quarter valued at about $1,404,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the completion of the sale, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 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 insiders.

Cencora Stock Performance

Shares of Cencora stock opened at $251.55 on Friday. Cencora, Inc. has a 52 week low of $195.83 and a 52 week high of $253.27. The company has a quick ratio of 0.53, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The business has a 50 day moving average price of $234.91 and a 200-day moving average price of $232.53. The company has a market cap of $49.57 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 1.67 and a beta of 0.44.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.87%. Cencora’s dividend payout ratio (DPR) is 29.29%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group boosted their target price on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, 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 research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.