Wedbush Securities Inc. Grows Stock Holdings in Cencora, Inc. (NYSE:COR)

Wedbush Securities Inc. raised its stake in shares of Cencora, Inc. (NYSE:COR) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,538 shares of the company’s stock after acquiring an additional 405 shares during the period. Wedbush Securities Inc.’s holdings in Cencora were worth $1,918,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in shares of Cencora by 63.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 46 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Cencora in the 4th quarter worth $30,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in shares of Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Kentucky Trust Co acquired a new position in shares of Cencora during the fourth quarter worth about $33,000. Finally, WASHINGTON TRUST Co raised its holdings in Cencora by 37.7% during the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the firm’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 sale, the chairman now directly owns 317,913 shares of the company’s stock, valued at $85,680,732.63. This trade represents a 4.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the sale, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $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 have sold a total of 30,675 shares of company stock valued at $8,034,778 over the last quarter. Insiders own 10.80% of the company’s stock.

Cencora Stock Performance

NYSE:COR opened at $279.29 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The company has a market capitalization of $54.16 billion, a P/E ratio of 39.73, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. The firm has a 50-day moving average price of $257.28 and a two-hundred day moving average price of $242.70. Cencora, Inc. has a twelve month low of $214.77 and a twelve month high of $296.65.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. As a group, research analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 0.79%. Cencora’s dividend payout ratio is currently 31.29%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Evercore ISI boosted their target price on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $280.20.

About Cencora

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.