Cencora, Inc. (NYSE:COR) Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,866 shares of the company’s stock after selling 3,996 shares during the period. Cencora makes up approximately 1.2% of Washington Trust Bank’s holdings, making the stock its 29th largest position. Washington Trust Bank’s holdings in Cencora were worth $13,001,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. JFS Wealth Advisors LLC lifted its position in Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Cencora in the fourth quarter valued at about $30,000. Kentucky Trust Co acquired a new stake in Cencora in the fourth quarter valued at about $33,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Cencora by 85.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 150 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Finally, WASHINGTON TRUST Co lifted its position in Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares in the company, valued at approximately $5,241,249.24. This trade represents a 9.03 % 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 this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the sale, the executive vice president now owns 15,374 shares in the company, valued at approximately $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,970 shares of company stock worth $2,998,670. 10.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Mizuho assumed coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Cencora from $251.00 to $274.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their price objective on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI increased their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Cencora currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Trading Down 0.3 %

Shares of COR opened at $266.91 on Friday. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $250.62 and a 200-day simple moving average of $240.06. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $271.08. The stock has a market cap of $51.76 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. Cencora’s dividend payout ratio (DPR) is currently 31.29%.

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.