Wedge Capital Management L L P NC Trims Position in Cencora, Inc. $COR

Wedge Capital Management L L P NC decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 7.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 81,395 shares of the company’s stock after selling 7,014 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cencora were worth $27,491,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC acquired a new position in Cencora in the 3rd quarter valued at about $30,000. Cloud Capital Management LLC acquired a new stake in Cencora during the 3rd quarter worth approximately $31,000. Caitlin John LLC purchased a new position in shares of Cencora in the 3rd quarter valued at approximately $31,000. Westside Investment Management Inc. increased its holdings in shares of Cencora by 200.0% in the third quarter. Westside Investment Management Inc. now owns 105 shares of the company’s stock valued at $33,000 after purchasing an additional 70 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Cencora in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Robert P. Mauch sold 5,096 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $354.73, for a total transaction of $1,807,704.08. Following the sale, the chief executive officer owned 66,726 shares of the company’s stock, valued at approximately $23,669,713.98. The trade was a 7.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

Cencora Stock Down 1.8%

Cencora stock opened at $312.28 on Friday. The stock’s 50 day moving average price is $352.05 and its 200 day moving average price is $340.52. Cencora, Inc. has a 1-year low of $267.40 and a 1-year high of $377.54. The company has a market cap of $60.75 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.92 and a quick ratio of 0.51.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, February 4th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.04. The firm had revenue of $85.93 billion during the quarter, compared to analysts’ expectations of $86.12 billion. Cencora had a return on equity of 176.54% and a net margin of 0.50%.Cencora’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.73 earnings per share. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.60 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. Cencora’s dividend payout ratio (DPR) is 28.85%.

Analysts Set New Price Targets

Several brokerages recently weighed in on COR. Jefferies Financial Group raised Cencora from an “underperform” rating to a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Cencora from $417.00 to $419.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Morgan Stanley set a $380.00 target price on shares of Cencora in a research note on Tuesday, March 17th. Wall Street Zen downgraded shares of Cencora from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, Weiss Ratings upgraded shares of Cencora from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $403.17.

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.