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

Washington Trust Bank lessened its stake in Cencora, Inc. (NYSE:COR) by 6.5% during the fourth quarter, Holdings Channel reports. The firm owned 57,866 shares of the company’s stock after selling 3,996 shares during the period. Cencora makes up about 1.2% of Washington Trust Bank’s holdings, making the stock its 29th biggest holding. Washington Trust Bank’s holdings in Cencora were worth $13,001,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in COR. Whittier Trust Co. raised its stake in shares of Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after purchasing an additional 44 shares in the last quarter. Shepherd Financial Partners LLC raised its stake in shares of Cencora by 0.9% in the 4th quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares in the last quarter. WASHINGTON TRUST Co raised its stake in shares of Cencora by 37.7% in the 4th quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Cencora by 63.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 46 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Cencora by 1.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock valued at $1,003,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

NYSE COR opened at $266.91 on Friday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $271.08. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. 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. The company has a 50-day moving average price of $250.62 and a two-hundred day moving average price of $240.06.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Analyst Ratings Changes

COR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Mizuho initiated coverage on shares of Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. Evercore ISI upped their target price on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Insiders Place Their Bets

In other news, CAO Lazarus Krikorian sold 2,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $260.06, for a total value of $520,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,970 shares of company stock worth $2,998,670. Insiders own 10.80% of the company’s stock.

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.