Cencora, Inc. (NYSE:COR) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its holdings in shares of Cencora, Inc. (NYSE:COR) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,662 shares of the company’s stock after selling 1,059 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Cencora were worth $28,734,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Lake Street Advisors Group LLC increased its position in Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after acquiring an additional 43 shares during the period. Financial Advocates Investment Management lifted its holdings in Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after purchasing an additional 44 shares during the period. Venturi Wealth Management LLC increased its stake in Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock valued at $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC increased its stake in shares of Cencora by 1.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares during the period. Finally, Checchi Capital Advisers LLC raised its holdings in Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Transactions at Cencora

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 15.80% of the stock is currently owned by company insiders.

Cencora Stock Down 0.9 %

Shares of NYSE COR traded down $2.24 during mid-day trading on Thursday, reaching $247.73. The company had a trading volume of 47,972 shares, compared to its average volume of 1,401,661. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The company has a market capitalization of $48.82 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.66 and a beta of 0.44. The stock has a fifty day moving average of $232.38 and a two-hundred day moving average of $231.00. Cencora, Inc. has a 12-month low of $191.11 and a 12-month high of $251.56.

Cencora Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. Cencora’s dividend payout ratio (DPR) is 27.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COR. Barclays boosted their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. UBS Group raised their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Leerink Partners cut their price objective on Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Bank of America restated a “neutral” rating and issued a $245.00 target price (down from $275.00) on shares of Cencora in a report on Wednesday, September 18th. Finally, StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.20.

About Cencora

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.