Cencora, Inc. $COR Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in shares of Cencora, Inc. (NYSE:COR) by 31.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 105,614 shares of the company’s stock after acquiring an additional 24,968 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cencora were worth $29,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Accent Capital Management LLC boosted its position in shares of Cencora by 36.1% during the 4th quarter. Accent Capital Management LLC now owns 113 shares of the company’s stock worth $38,000 after purchasing an additional 30 shares during the period. MCF Advisors LLC increased its holdings in Cencora by 11.0% in the 4th quarter. MCF Advisors LLC now owns 303 shares of the company’s stock valued at $102,000 after purchasing an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC raised its position in Cencora by 6.8% in the fourth quarter. CYBER HORNET ETFs LLC now owns 485 shares of the company’s stock valued at $164,000 after purchasing an additional 31 shares during the period. Steph & Co. raised its position in Cencora by 23.5% in the first quarter. Steph & Co. now owns 168 shares of the company’s stock valued at $53,000 after purchasing an additional 32 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its stake in Cencora by 1.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 3,492 shares of the company’s stock worth $1,180,000 after purchasing an additional 37 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lauren M. Tyler purchased 550 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the purchase, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. This represents a 14.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COR. Citigroup restated a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Evercore reissued an “outperform” rating and issued a $350.00 price objective on shares of Cencora in a report on Thursday, August 6th. Wells Fargo & Company boosted their price target on Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group increased their price objective on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cencora from $382.00 to $390.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $374.25.

Cencora Stock Performance

COR opened at $333.21 on Wednesday. The stock has a market cap of $64.83 billion, a P/E ratio of 24.76, a P/E/G ratio of 1.87 and a beta of 0.57. 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 stock’s 50 day simple moving average is $296.42 and its 200 day simple moving average is $313.81. Cencora, Inc. has a 1-year low of $244.82 and a 1-year high of $377.54.

Cencora (NYSE:COR) last issued its quarterly earnings data 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 firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%.Cencora’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.00 earnings per share. As a group, equities analysts anticipate that Cencora, Inc. will post 17.84 EPS for the current fiscal year.

Cencora declared that its Board of Directors has initiated a share repurchase program on Thursday, May 21st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Cencora Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.60 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s dividend payout ratio (DPR) is currently 17.83%.

About Cencora

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.