Washington Trust Bank Has $9.57 Million Stake in Cencora, Inc. $COR

Washington Trust Bank trimmed its stake in Cencora, Inc. (NYSE:COR) by 11.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Cencora during the fourth quarter worth approximately $25,000. Elyxium Wealth LLC bought a new position in shares of Cencora in the fourth quarter valued at approximately $27,000. Elevation Wealth Partners LLC raised its position in shares of Cencora by 506.2% in the second quarter. Elevation Wealth Partners LLC now owns 97 shares of the company’s stock valued at $27,000 after purchasing an additional 81 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Cencora in the second quarter worth $28,000. Finally, Caitlin John LLC bought a new stake in shares of Cencora during the 2nd quarter worth $28,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other news, Director Lauren M. Tyler acquired 550 shares of Cencora stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $270.23 per share, for a total transaction of $148,626.50. Following the transaction, the director owned 4,359 shares of the company’s stock, valued at $1,177,932.57. The trade was a 14.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth S. Campbell sold 11,300 shares of Cencora stock in a transaction that occurred 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 sale, the executive vice president directly owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.38% of the stock is owned by company insiders.

Cencora Price Performance

NYSE:COR opened at $322.12 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. Cencora, Inc. has a one year low of $244.82 and a one year high of $377.54. The company has a fifty day moving average price of $307.38 and a 200 day moving average price of $310.88. The stock has a market cap of $61.47 billion, a P/E ratio of 23.93, a PEG ratio of 1.85 and a beta of 0.57.

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

Cencora declared that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Cencora Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COR shares. Barclays lowered their target price on shares of Cencora from $425.00 to $350.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Cencora in a research report on Thursday, August 6th. UBS Group boosted their price objective on Cencora from $412.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Morgan Stanley increased their target price on Cencora from $342.00 to $346.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Weiss Ratings raised Cencora from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cencora presently has an average rating of “Moderate Buy” and an average target price of $370.85.

About Cencora

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.