Cencora, Inc. (NYSE:COR) Shares Sold by Hengehold Capital Management LLC

Hengehold Capital Management LLC trimmed its stake in Cencora, Inc. (NYSE:COR) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,104 shares of the company’s stock after selling 41 shares during the quarter. Hengehold Capital Management LLC’s holdings in Cencora were worth $1,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Exchange Traded Concepts LLC grew its position in shares of Cencora by 4.5% in the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock valued at $307,000 after purchasing an additional 48 shares during the period. BayBridge Capital Group LLC boosted its position in shares of Cencora by 148.6% in the first quarter. BayBridge Capital Group LLC now owns 5,691 shares of the company’s stock worth $1,583,000 after buying an additional 3,402 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Cencora by 8.7% in the first quarter. Ritholtz Wealth Management now owns 12,212 shares of the company’s stock worth $3,396,000 after acquiring an additional 979 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Cencora by 6.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company’s stock worth $427,000 after acquiring an additional 93 shares in the last quarter. Finally, American Institute for Advanced Investment Management LLP acquired a new position in shares of Cencora in the first quarter worth about $4,068,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COR. Morgan Stanley set a $288.00 price objective on Cencora in a research note on Tuesday, April 15th. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. UBS Group raised their target price on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and an average target price of $306.91.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 4,127 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the transaction, the executive vice president now owns 14,665 shares of the company’s stock, valued at approximately $3,934,326.20. This represents a 21.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the company’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total value of $4,108,507.99. Following the transaction, the chairman now directly owns 315,913 shares in the company, valued at approximately $89,027,442.53. This represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,253 shares of company stock valued at $10,582,297. 10.80% of the stock is currently owned by corporate insiders.

Cencora Trading Up 0.0%

Shares of NYSE:COR opened at $295.12 on Friday. The company has a market cap of $57.20 billion, a P/E ratio of 41.98, a P/E/G ratio of 1.31 and a beta of 0.58. The stock’s 50-day moving average is $287.24 and its 200-day moving average is $261.74. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share for the quarter, topping analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 328.62% and a net margin of 0.46%. The business had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the business earned $3.80 earnings per share. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

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.