Wedmont Private Capital increased its holdings in Cencora, Inc. (NYSE:COR – Free Report) by 193.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,320 shares of the company’s stock after buying an additional 5,488 shares during the quarter. Wedmont Private Capital’s holdings in Cencora were worth $2,498,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in COR. BlackRock Inc. bought a new position in shares of Cencora in the second quarter worth $5,154,136,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Cencora by 160.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,700,091 shares of the company’s stock valued at $2,262,956,000 after purchasing an additional 4,123,795 shares in the last quarter. Bank of America Corp DE lifted its holdings in Cencora by 6.9% in the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock worth $1,300,033,000 after purchasing an additional 267,318 shares during the period. Amundi grew its position in Cencora by 43.5% in the 2nd quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after buying an additional 676,066 shares in the last quarter. Finally, Carmignac Gestion grew its position in Cencora by 58.7% in the 2nd quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after buying an additional 646,112 shares in the last quarter. Institutional investors own 97.52% of the company’s stock.
Insider Activity at Cencora
In related news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction on Monday, August 24th. The stock was 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 $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on COR
Cencora Stock Up 0.7%
NYSE COR opened at $323.59 on Friday. The company has a debt-to-equity ratio of 3.53, a current ratio of 0.93 and a quick ratio of 0.58. The company’s 50 day simple moving average is $318.47 and its 200 day simple moving average is $302.85. Cencora, Inc. has a 12 month low of $244.82 and a 12 month high of $377.54. The company has a market capitalization of $61.75 billion, a P/E ratio of 24.04, a PEG ratio of 1.65 and a beta of 0.58.
Cencora (NYSE:COR – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.13. The firm had revenue of $84.75 billion during the quarter, compared to analysts’ expectations of $84.31 billion. Cencora had a net margin of 0.79% and a return on equity of 125.45%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the firm posted $4.00 earnings per share. Equities research analysts expect that Cencora, Inc. will post 17.87 earnings per share for the current fiscal year.
Cencora Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.7%. Cencora’s payout ratio is 17.83%.
Cencora Company Profile
Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical solutions company that sources, distributes and supports the delivery of medicines and healthcare products. The company serves pharmaceutical manufacturers, healthcare providers, pharmacies and animal-health customers through its supply-chain and commercialization services.
Its activities include pharmaceutical and specialty-product distribution, manufacturer services, specialty logistics, clinical-trial support, patient-support programs and other services designed to help bring medicines to market and improve access to treatment.
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