Wealthfront Advisers LLC Cuts Position in Cencora, Inc. (NYSE:COR)

Wealthfront Advisers LLC lessened its holdings in Cencora, Inc. (NYSE:COR) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,239 shares of the company’s stock after selling 4,150 shares during the quarter. Wealthfront Advisers LLC’s holdings in Cencora were worth $3,199,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Cencora by 6,855.3% during the 3rd quarter. Pacer Advisors Inc. now owns 2,065,374 shares of the company’s stock worth $464,874,000 after purchasing an additional 2,035,679 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cencora during the 4th quarter worth approximately $322,460,000. Wellington Management Group LLP raised its holdings in shares of Cencora by 7.0% during the third quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Amundi lifted its position in shares of Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after acquiring an additional 314,846 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Cencora by 40.2% in the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after acquiring an additional 308,773 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $255.64 on Friday. The company’s 50-day moving average is $247.01 and its two-hundred day moving average is $238.93. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $263.70. 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 market capitalization of $49.57 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 1.31 and a beta of 0.51.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is presently 31.29%.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,970 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $255.00, for a total value of $1,267,350.00. Following the transaction, the chief executive officer now directly owns 51,070 shares in the company, valued at approximately $13,022,850. This represents a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,648 shares of company stock valued at $3,382,462. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 target price for the company. JPMorgan Chase & Co. raised their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price objective on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 29th. Finally, Evercore ISI raised their target price on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cencora currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.90.

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.