Ferguson Wellman Capital Management Inc. Grows Position in Cencora, Inc. (NYSE:COR)

Ferguson Wellman Capital Management Inc. raised its position in Cencora, Inc. (NYSE:COR) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 129,086 shares of the company’s stock after acquiring an additional 2,322 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Cencora were worth $35,898,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Net Worth Advisory Group increased its stake in shares of Cencora by 1.4% during the 1st quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock valued at $736,000 after acquiring an additional 36 shares during the last quarter. Simon Quick Advisors LLC lifted its position in Cencora by 35.8% during the first quarter. Simon Quick Advisors LLC now owns 1,274 shares of the company’s stock valued at $354,000 after buying an additional 336 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in Cencora during the first quarter valued at approximately $623,000. Donaldson Capital Management LLC lifted its position in shares of Cencora by 2.9% during the first quarter. Donaldson Capital Management LLC now owns 10,688 shares of the company’s stock worth $2,972,000 after purchasing an additional 297 shares in the last quarter. Finally, Martin Capital Partners LLC lifted its position in shares of Cencora by 31.6% during the first quarter. Martin Capital Partners LLC now owns 1,240 shares of the company’s stock worth $345,000 after purchasing an additional 298 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Trading Up 0.7%

Shares of Cencora stock opened at $286.34 on Thursday. The company’s fifty day simple moving average is $286.42 and its 200-day simple moving average is $260.98. The company has a market cap of $55.50 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 1.31 and a beta of 0.58. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.46% and a return on equity of 328.62%. The firm had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the company earned $3.80 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Cencora’s dividend payout ratio is presently 25.52%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and boosted their target price 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 report on Wednesday, March 12th. Bank of America upped their price target on shares of Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. Finally, Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $306.91.

Insider Activity

In related news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 4,127 shares of the business’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 sale, the executive vice president now directly owns 14,665 shares of the company’s stock, valued at $3,934,326.20. This represents a 21.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,253 shares of company stock worth $10,582,297. Corporate insiders own 10.80% of the company’s stock.

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.