Glenmede Trust Co. NA Acquires 140,641 Shares of Cencora, Inc. (NYSE:COR)

Glenmede Trust Co. NA grew its holdings in Cencora, Inc. (NYSE:COR) by 254.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,871 shares of the company’s stock after acquiring an additional 140,641 shares during the period. Glenmede Trust Co. NA owned 0.10% of Cencora worth $44,087,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP boosted its holdings in Cencora by 61.3% in the third quarter. Quantbot Technologies LP now owns 131,557 shares of the company’s stock worth $29,611,000 after purchasing an additional 49,997 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Cencora by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 503,317 shares of the company’s stock worth $113,287,000 after acquiring an additional 14,079 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Cencora during the 3rd quarter valued at about $86,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Cencora in the 3rd quarter valued at approximately $974,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Cencora by 3.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 22,935 shares of the company’s stock worth $5,162,000 after purchasing an additional 691 shares during the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling at Cencora

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the completion of the transaction, the chairman now owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 93,018 shares of company stock valued at $22,478,942. 15.80% of the stock is currently owned by corporate insiders.

Cencora Trading Up 1.7 %

Shares of COR stock opened at $248.40 on Wednesday. The firm has a fifty day moving average of $233.56 and a 200-day moving average of $232.01. The stock has a market cap of $48.95 billion, a price-to-earnings ratio of 33.08, a P/E/G ratio of 1.63 and a beta of 0.44. Cencora, Inc. has a 52-week low of $195.83 and a 52-week high of $251.56. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This is a boost 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 dividend on an annualized basis and a yield of 0.89%. Cencora’s dividend payout ratio (DPR) is currently 29.29%.

Analysts Set New Price Targets

A number of research firms have recently commented on COR. Evercore ISI lifted their price target on shares of Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Bank of America reaffirmed a “neutral” rating and issued a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Robert W. Baird boosted their price objective on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Leerink Partners cut their price target 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average target price of $271.20.

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.