Wedbush Securities Inc. Sells 1,330 Shares of Cencora, Inc. (NYSE:COR)

Wedbush Securities Inc. lowered its position in Cencora, Inc. (NYSE:COR - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,208 shares of the company's stock after selling 1,330 shares during the period. Wedbush Securities Inc.'s holdings in Cencora were worth $2,004,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COR. Cornerstone Planning Group LLC increased its holdings in Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock worth $26,000 after purchasing an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in Cencora during the 1st quarter worth about $28,000. Banque Transatlantique SA bought a new position in Cencora during the 4th quarter worth about $29,000. Vermillion Wealth Management Inc. bought a new position in Cencora during the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC increased its holdings in Cencora by 157.6% during the 1st quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 97.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COR. Morgan Stanley set a $330.00 target price on Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Jefferies Financial Group increased their target price on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cencora has a consensus rating of "Moderate Buy" and a consensus price target of $309.83.

Cencora Stock Performance

NYSE:COR traded down $3.08 during mid-day trading on Thursday, hitting $290.36. The stock had a trading volume of 902,898 shares, compared to its average volume of 1,110,554. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The stock has a market cap of $56.28 billion, a price-to-earnings ratio of 33.68, a PEG ratio of 1.45 and a beta of 0.57. The company's 50 day simple moving average is $293.22 and its 200 day simple moving average is $273.46. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The business had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the business posted $3.80 EPS. Cencora's revenue was up 10.3% on a year-over-year basis. On average, equities research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 annualized dividend and a yield of 0.76%. Cencora's dividend payout ratio (DPR) is currently 25.52%.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the transaction, the chairman directly owned 309,913 shares of the company's stock, valued at $90,702,237.71. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Cencora Company 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.