Connor Clark & Lunn Investment Management Ltd. Has $672,000 Stock Position in Cencora, Inc. (NYSE:COR)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Cencora, Inc. (NYSE:COR) by 65.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,984 shares of the company’s stock after selling 5,726 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Cencora were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COR. Legal & General Group Plc boosted its stake in Cencora by 3.7% during the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after buying an additional 67,287 shares in the last quarter. Swedbank AB boosted its position in shares of Cencora by 2.3% during the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after acquiring an additional 31,104 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Cencora by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,262,882 shares of the company’s stock valued at $284,544,000 after acquiring an additional 119,927 shares during the period. Bank of New York Mellon Corp raised its position in Cencora by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,205,673 shares of the company’s stock worth $271,638,000 after purchasing an additional 4,697 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in Cencora by 17.2% during the second quarter. AQR Capital Management LLC now owns 1,084,603 shares of the company’s stock worth $244,361,000 after purchasing an additional 158,967 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $243.97, for a total value of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares of the company’s stock, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 93,018 shares of company stock valued at $22,478,942. Company insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on COR shares. Evercore ISI upped their price objective on Cencora from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. 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. Leerink Partners cut their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Bank of America reaffirmed 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Price Performance

COR opened at $249.69 on Friday. 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 stock has a market capitalization of $49.20 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 1.63 and a beta of 0.44. The company’s 50 day simple moving average is $234.44 and its 200-day simple moving average is $232.26. Cencora, Inc. has a one year low of $195.83 and a one year high of $251.56.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.88%. This is a positive change 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%.

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.