Cencora, Inc. $COR Holdings Boosted by Wedmont Private Capital

Wedmont Private Capital raised its position in shares of Cencora, Inc. (NYSE:COR) by 193.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,320 shares of the company’s stock after acquiring an additional 5,488 shares during the period. Wedmont Private Capital’s holdings in Cencora were worth $2,498,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Cencora in the second quarter worth $5,154,136,000. T. Rowe Price Investment Management Inc. lifted its stake in Cencora by 160.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock worth $2,262,956,000 after acquiring an additional 4,123,795 shares in the last quarter. Bank of America Corp DE purchased a new stake in Cencora in the 2nd quarter worth about $1,056,625,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Cencora during the 2nd quarter worth about $483,772,000. Finally, Legal & General Group Plc acquired a new stake in Cencora during the 2nd quarter worth about $339,556,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on COR shares. Morgan Stanley upped their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group boosted their price objective on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Robert W. Baird set a $370.00 target price on shares of Cencora in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $372.07.

Insider Buying and Selling

In other news, EVP Elizabeth Campbell sold 11,300 shares of Cencora stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Cencora Trading Up 0.7%

Cencora stock opened at $323.59 on Friday. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company’s fifty day moving average price is $318.47 and its two-hundred day moving average price is $302.85. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company has a market capitalization of $61.75 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.65 and a beta of 0.58.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.13. The company had revenue of $84.75 billion during the quarter, compared to the consensus estimate of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.00 EPS. On average, analysts forecast that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. Cencora’s dividend payout ratio is presently 17.83%.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.

Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.