Mizuho Securities USA LLC Has $7.68 Million Stake in Cencora, Inc. (NYSE:COR)

Mizuho Securities USA LLC increased its position in shares of Cencora, Inc. (NYSE:COR) by 167.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,110 shares of the company’s stock after buying an additional 21,351 shares during the period. Mizuho Securities USA LLC’s holdings in Cencora were worth $7,677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Street Advisors Group LLC raised its position in shares of Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after acquiring an additional 43 shares in the last quarter. Financial Advocates Investment Management increased its position in Cencora by 4.7% in the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after buying an additional 44 shares in the last quarter. Venturi Wealth Management LLC increased its position in Cencora by 1.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after buying an additional 46 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock worth $848,000 after buying an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in Cencora by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on COR. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners lowered their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $271.20.

Cencora Trading Down 1.1 %

NYSE:COR opened at $240.24 on Friday. Cencora, Inc. has a 52 week low of $194.23 and a 52 week high of $251.56. The firm has a 50-day moving average price of $232.62 and a two-hundred day moving average price of $231.03. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The firm has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was 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 directly owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.80% of the stock is currently owned by corporate insiders.

Cencora Company 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.