Cencora, Inc. (NYSE:COR) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,139 shares of the company’s stock after selling 673 shares during the period. Wedbush Securities Inc.’s holdings in Cencora were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in COR. Vanguard Group Inc. acquired a new position in shares of Cencora in the fourth quarter valued at about $4,212,508,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Cencora in the first quarter valued at about $2,183,619,000. JPMorgan Chase & Co. acquired a new position in shares of Cencora in the first quarter valued at about $1,199,695,000. Boston Partners acquired a new position in shares of Cencora in the first quarter valued at about $1,001,269,000. Finally, Capital Research Global Investors purchased a new stake in shares of Cencora in the first quarter worth about $650,424,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cencora

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now owns 19,980,000 shares of the company’s stock, valued at $4,806,388,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total value of $2,388,900.60. Following the sale, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is currently owned by insiders.

Cencora Stock Performance

NYSE COR opened at $236.53 on Tuesday. The company has a market cap of $46.61 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.54 and a beta of 0.44. The stock’s 50 day simple moving average is $232.44 and its 200-day simple moving average is $233.20. Cencora, Inc. has a 1-year low of $172.41 and a 1-year high of $247.66. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.16. The business had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.92 earnings per share. As a group, equities research analysts anticipate that Cencora, Inc. will post 13.61 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. Cencora’s dividend payout ratio is presently 22.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COR. StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Robert W. Baird lowered their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. upped their target price on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research note on Thursday, June 27th. Finally, Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.13.

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.