Washington Trust Bank Sells 4,375 Shares of Cencora, Inc. $COR

Washington Trust Bank decreased its holdings in shares of Cencora, Inc. (NYSE:COR) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,832 shares of the company’s stock after selling 4,375 shares during the period. Washington Trust Bank’s holdings in Cencora were worth $9,574,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COR. Kemnay Advisory Services Inc. bought a new position in shares of Cencora during the 4th quarter worth approximately $25,000. Elyxium Wealth LLC bought a new stake in Cencora in the fourth quarter valued at $27,000. Motiv8 Investments LLC bought a new stake in Cencora in the fourth quarter valued at $29,000. Basepoint Wealth LLC acquired a new position in Cencora during the fourth quarter worth $32,000. Finally, Elevation Wealth Partners LLC raised its stake in Cencora by 506.2% during the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cencora

In other news, Director Lauren M. Tyler purchased 550 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $270.23 per share, with a total value of $148,626.50. Following the completion of the purchase, the director directly owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth S. Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at approximately $6,305,754.60. This represents a 36.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.38% of the stock is currently owned by company insiders.

Cencora Price Performance

Shares of COR stock opened at $322.12 on Friday. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The firm’s 50 day moving average is $307.38 and its 200-day moving average is $310.88. The firm has a market capitalization of $61.47 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.85 and a beta of 0.57. The company has a current ratio of 0.93, a quick ratio of 0.58 and a debt-to-equity ratio of 3.53.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.13. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The business had revenue of $84.75 billion during the quarter, compared to analyst estimates of $84.31 billion. During the same quarter last year, the business posted $4.00 earnings per share. Cencora’s revenue for the quarter was up 5.1% compared to the same quarter last year. Sell-side analysts forecast that Cencora, Inc. will post 17.87 EPS for the current fiscal year.

Cencora declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Cencora Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, August 14th. Cencora’s dividend payout ratio (DPR) is presently 17.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COR shares. JPMorgan Chase & Co. boosted their target price on shares of Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Bank of America increased their target price on shares of Cencora from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group boosted their price target on shares of Cencora from $412.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Citigroup reaffirmed a “buy” rating on shares of Cencora in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.85.

Cencora Profile

Cencora (NYSE:COR) is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company’s core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.