Metis Global Partners LLC Boosts Stake in Cencora, Inc. (NYSE:COR)

by · The Cerbat Gem

Metis Global Partners LLC increased its position in shares of Cencora, Inc. (NYSE:COR – Free Report) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,719 shares of the company’s stock after acquiring an additional 175 shares during the quarter. Metis Global Partners LLC’s holdings in Cencora were worth $1,962,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. New Millennium Group LLC acquired a new stake in shares of Cencora during the second quarter valued at about $26,000. TFO Wealth Partners LLC acquired a new stake in shares of Cencora in the first quarter valued at $30,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora in the second quarter valued at $30,000. Concord Wealth Partners acquired a new position in shares of Cencora in the third quarter worth about $30,000. Finally, LRI Investments LLC purchased a new stake in Cencora in the 1st quarter worth about $31,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $240.24 on Friday. 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 firm has a market capitalization of $47.34 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.66 and a beta of 0.44. The company has a fifty day moving average of $232.62 and a 200-day moving average of $231.08. Cencora, Inc. has a twelve month low of $194.23 and a twelve month high of $251.56.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio is 29.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on COR shares. Robert W. Baird increased 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 boosted their price target on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. 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 report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and a consensus price target of $271.20.

Read Our Latest Stock Analysis on COR

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 15.80% of the company’s stock.

Cencora Company Profile

(Free Report)

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.

Further Reading

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