Principal Financial Group Inc. Grows Holdings in Cencora, Inc. (NYSE:COR)

Principal Financial Group Inc. lifted its position in shares of Cencora, Inc. (NYSE:COR) by 6.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 306,726 shares of the company’s stock after buying an additional 19,831 shares during the quarter. Principal Financial Group Inc.’s holdings in Cencora were worth $69,038,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama boosted its position in Cencora by 4.0% during the third quarter. Retirement Systems of Alabama now owns 37,987 shares of the company’s stock worth $8,550,000 after acquiring an additional 1,470 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cencora by 20.4% during the third quarter. Franklin Resources Inc. now owns 207,131 shares of the company’s stock worth $46,564,000 after purchasing an additional 35,024 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in shares of Cencora by 2.8% in the third quarter. Peapack Gladstone Financial Corp now owns 3,240 shares of the company’s stock valued at $729,000 after purchasing an additional 88 shares during the period. Synovus Financial Corp increased its stake in Cencora by 8.3% in the third quarter. Synovus Financial Corp now owns 16,199 shares of the company’s stock valued at $3,646,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Cencora by 18.2% during the third quarter. Tidal Investments LLC now owns 20,684 shares of the company’s stock worth $4,656,000 after buying an additional 3,189 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.6 %

NYSE:COR opened at $227.69 on Friday. Cencora, Inc. has a 12 month low of $199.82 and a 12 month high of $253.27. The business’s 50-day moving average is $239.00 and its two-hundred day moving average is $234.12. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The firm has a market capitalization of $44.01 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.54 and a beta of 0.45.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is currently 29.29%.

Wall Street Analyst Weigh In

Several research firms have commented on COR. Wells Fargo & Company lowered their price target on Cencora from $249.00 to $237.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. UBS Group increased their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Evercore ISI boosted their price target on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Cencora presently has a consensus rating of “Moderate Buy” and an average target price of $275.60.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total value of $5,208,619.44. Following the completion of the transaction, the chairman now directly owns 306,752 shares in the company, valued at approximately $74,283,064.32. This represents a 6.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 93,018 shares of company stock valued at $22,478,942 over the last 90 days. 15.80% of the stock is owned by corporate insiders.

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.