Wakefield Asset Management LLLP Sells 280 Shares of Cencora, Inc. $COR

Wakefield Asset Management LLLP trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 3.5% during the second quarter, HoldingsChannel reports. The firm owned 7,647 shares of the company’s stock after selling 280 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Cencora were worth $2,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Cornerstone Planning Group LLC raised its holdings in shares of Cencora by 106.7% during the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock worth $26,000 after acquiring an additional 48 shares during the period. Costello Asset Management INC acquired a new stake in shares of Cencora during the first quarter worth $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora during the first quarter worth $39,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Cencora during the first quarter worth $48,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

COR has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Cencora from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Mizuho raised their price objective on shares of Cencora from $334.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of Cencora from $337.00 to $354.00 and gave the stock an “overweight” rating in a report on Wednesday, August 13th. Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, UBS Group lifted their price target on shares of Cencora from $350.00 to $380.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cencora presently has an average rating of “Moderate Buy” and an average target price of $329.55.

Cencora Stock Performance

Shares of COR opened at $337.60 on Friday. The firm has a 50-day moving average of $308.09 and a 200-day moving average of $297.11. Cencora, Inc. has a one year low of $223.92 and a one year high of $350.46. The company has a market cap of $65.45 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same quarter last year, the firm posted $3.34 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Transactions at Cencora

In other news, Chairman Steven H. Collis sold 31,350 shares of Cencora stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the transaction, the chairman owned 305,913 shares of the company’s stock, valued at $88,671,942.18. This trade represents a 9.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert P. Mauch sold 5,097 shares of Cencora stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $326.80, for a total transaction of $1,665,699.60. Following the completion of the transaction, the chief executive officer directly owned 37,940 shares of the company’s stock, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,544 shares of company stock valued at $12,230,941. Insiders own 10.80% of the company’s stock.

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.