Washington Trust Bank Has $15.10 Million Stock Holdings in Cencora, Inc. (NYSE:COR)

Washington Trust Bank lowered its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,301 shares of the company's stock after selling 3,565 shares during the quarter. Cencora accounts for about 1.5% of Washington Trust Bank's investment portfolio, making the stock its 23rd biggest position. Washington Trust Bank's holdings in Cencora were worth $15,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in Cencora in the first quarter valued at about $28,000. Banque Transatlantique SA acquired a new position in Cencora in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new position in Cencora in the fourth quarter valued at about $30,000. Vermillion Wealth Management Inc. acquired a new position in Cencora in the fourth quarter valued at about $38,000. Finally, OFI Invest Asset Management acquired a new position in Cencora in the fourth quarter valued at about $41,000. Institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

COR has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Jefferies Financial Group boosted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Morgan Stanley set a $288.00 price target on shares of Cencora in a research report on Tuesday, April 15th. Citigroup boosted their price target on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Robert W. Baird upped their target price on shares of Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $306.33.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the transaction, the chairman directly owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the transaction, the chief executive officer directly owned 47,582 shares in the company, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,127 shares of company stock worth $9,812,296. Insiders own 10.80% of the company's stock.

Cencora Price Performance

Shares of COR traded down $4.43 during mid-day trading on Tuesday, hitting $298.07. 1,159,013 shares of the company traded hands, compared to its average volume of 1,508,757. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The business has a 50-day moving average of $291.57 and a 200 day moving average of $268.53. The stock has a market capitalization of $57.77 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 1.50 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The firm had revenue of $75.50 billion for the quarter, compared to analysts' expectations of $75.41 billion. During the same period last year, the firm earned $3.80 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 0.74%. Cencora's payout ratio is presently 25.52%.

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.