Wedge Capital Management L L P NC Has $33.51 Million Stake in Cencora, Inc. (NYSE:COR)

Wedge Capital Management L L P NC cut its position in Cencora, Inc. (NYSE:COR) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,486 shares of the company’s stock after selling 5,040 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cencora were worth $33,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its stake in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after acquiring an additional 46 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Cencora in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. bought a new position in shares of Cencora in the 4th quarter valued at $30,000. Kentucky Trust Co acquired a new position in shares of Cencora during the 4th quarter worth $33,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of Cencora by 37.7% during the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after buying an additional 46 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Robert W. Baird lifted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research report on Tuesday, April 15th. Finally, Bank of America raised their target price on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $306.91.

Insider Buying and Selling

In other news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the sale, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total value of $1,107,191.56. Following the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This trade represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,253 shares of company stock valued at $11,102,417 in the last three months. Insiders own 10.80% of the company’s stock.

Cencora Stock Up 0.2%

Shares of NYSE COR opened at $289.01 on Friday. The company has a 50 day simple moving average of $286.29 and a 200 day simple moving average of $260.27. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The firm has a market cap of $56.02 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 1.31 and a beta of 0.58.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. The firm had revenue of $75.50 billion during the quarter, compared to analysts’ expectations of $75.41 billion. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.80 EPS. On average, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, May 16th. Cencora’s dividend payout ratio is currently 25.52%.

Cencora Company 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.