Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Cencora, Inc. (NYSE:COR)

Sumitomo Mitsui Trust Group Inc. increased its position in Cencora, Inc. (NYSE:COR) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,059,456 shares of the company’s stock after purchasing an additional 87,393 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cencora were worth $238,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Cencora in the 2nd quarter valued at about $26,000. TCTC Holdings LLC purchased a new position in Cencora in the first quarter valued at about $29,000. TFO Wealth Partners LLC purchased a new position in Cencora in the first quarter valued at about $30,000. MFA Wealth Advisors LLC acquired a new stake in Cencora during the 2nd quarter valued at approximately $30,000. Finally, Concord Wealth Partners purchased a new stake in Cencora during the 3rd quarter worth approximately $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COR. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Bank of America reiterated a “neutral” rating and set a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Robert W. Baird boosted their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays increased their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Leerink Partners lowered their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $271.20.

Cencora Price Performance

COR opened at $248.77 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.88 and a debt-to-equity ratio of 4.84. The company’s 50-day moving average price is $232.24 and its 200 day moving average price is $230.86. Cencora, Inc. has a fifty-two week low of $191.11 and a fifty-two week high of $251.56. The firm has a market cap of $49.02 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.61 and a beta of 0.44.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend yield of 0.88%. Cencora’s dividend payout ratio (DPR) is 27.16%.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction 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 sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.