Wedge Capital Management L L P NC Cuts Holdings in Cencora, Inc. (NYSE:COR)

Wedge Capital Management L L P NC decreased its holdings in Cencora, Inc. (NYSE:COR) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,526 shares of the company’s stock after selling 8,705 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of Cencora worth $28,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Cencora by 3.8% in the 3rd quarter. State Street Corp now owns 8,045,896 shares of the company’s stock worth $1,810,970,000 after acquiring an additional 291,867 shares in the last quarter. Wellington Management Group LLP grew its stake in Cencora by 7.0% in the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after purchasing an additional 338,452 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cencora by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company’s stock worth $941,183,000 after purchasing an additional 189,054 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Cencora by 6,855.3% during the third quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock valued at $464,874,000 after buying an additional 2,035,679 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Cencora by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock valued at $422,538,000 after buying an additional 67,287 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Stock Up 0.5 %

Shares of COR stock opened at $242.11 on Friday. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $253.27. The firm has a market capitalization of $46.80 billion, a PE ratio of 32.24, a P/E/G ratio of 1.48 and a beta of 0.49. The stock’s 50-day simple moving average is $237.52 and its 200-day simple moving average is $233.85.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 dividend on an annualized basis and a yield of 0.91%. Cencora’s dividend payout ratio is 29.29%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. UBS Group upped their price target on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price target for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.60.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the transaction, the chairman now directly owns 306,752 shares of the company’s stock, valued at $74,283,064.32. This trade represents a 6.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,696 shares of company stock worth $22,862,734. 15.80% of the stock is owned by company insiders.

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.