Cencora, Inc. (NYSE:COR) Stock Holdings Trimmed by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in Cencora, Inc. (NYSE:COR) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 153,353 shares of the company’s stock after selling 10,530 shares during the quarter. Wedge Capital Management L L P NC owned 0.08% of Cencora worth $34,550,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. bought a new position in Cencora during the 4th quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Cencora in the first quarter valued at $2,183,619,000. JPMorgan Chase & Co. bought a new position in Cencora during the first quarter valued at about $1,199,695,000. Boston Partners acquired a new position in Cencora during the first quarter worth about $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in Cencora in the first quarter worth about $650,424,000. 97.52% of the stock is currently owned by institutional investors.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of Cencora stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the sale, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gina Clark sold 27,093 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $216.07, for a total transaction of $5,853,984.51. Following the transaction, the executive vice president now owns 15,158 shares of the company’s stock, valued at approximately $3,275,189.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 1,859,390 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $215.12, for a total value of $399,991,976.80. Following the completion of the transaction, the insider now directly owns 24,418,171 shares in the company, valued at $5,252,836,945.52. The disclosure for this sale can be found here. Insiders sold 6,338,756 shares of company stock valued at $1,476,658,274 in the last three months. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COR. Wells Fargo & Company lifted their price objective on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. SVB Leerink restated an “outperform” rating and issued a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Citigroup increased their price objective on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their target price on Cencora from $285.00 to $287.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.57.

Cencora Stock Down 0.5 %

NYSE:COR traded down $1.10 during trading hours on Thursday, hitting $236.65. 1,108,905 shares of the company’s stock traded hands, compared to its average volume of 1,387,132. Cencora, Inc. has a twelve month low of $171.65 and a twelve month high of $247.66. The firm has a market cap of $47.20 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.68 and a beta of 0.45. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.53 and a current ratio of 0.89. The stock’s fifty day moving average price is $231.14 and its two-hundred day moving average price is $232.39.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.16. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The business had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. During the same period in the prior year, the firm earned $2.92 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that Cencora, Inc. will post 13.56 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 9th. Cencora’s payout ratio is currently 22.32%.

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.