Washington Trust Bank Has $13 Million Stake in Cencora, Inc. (NYSE:COR)

Washington Trust Bank trimmed its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,866 shares of the company's stock after selling 3,996 shares during the quarter. Cencora accounts for about 1.2% of Washington Trust Bank's portfolio, making the stock its 29th biggest holding. Washington Trust Bank's holdings in Cencora were worth $13,001,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COR. State Street Corp raised its position in shares of Cencora by 3.8% during the third quarter. State Street Corp now owns 8,045,896 shares of the company's stock worth $1,810,970,000 after purchasing an additional 291,867 shares during the period. Wellington Management Group LLP increased its stake in Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company's stock worth $1,168,927,000 after purchasing an additional 338,452 shares in the last quarter. Boston Partners raised its holdings in Cencora by 2.6% during the 4th quarter. Boston Partners now owns 5,007,100 shares of the company's stock worth $1,128,058,000 after buying an additional 125,611 shares during the period. Geode Capital Management LLC lifted its stake in Cencora by 4.7% during the third quarter. Geode Capital Management LLC now owns 4,195,851 shares of the company's stock valued at $941,183,000 after buying an additional 189,054 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cencora by 6.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,204,242 shares of the company's stock worth $495,249,000 after buying an additional 138,868 shares during the period. Institutional investors own 97.52% of the company's stock.

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Insider Activity

In related news, CEO Robert P. Mauch sold 4,970 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 51,070 shares of the company's stock, valued at $13,022,850. The trade was a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares of the company's stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,970 shares of company stock worth $2,998,670. Company insiders own 10.80% of the company's stock.

Cencora Stock Up 1.1 %

Shares of NYSE COR traded up $2.84 during mid-day trading on Wednesday, reaching $271.32. 1,036,117 shares of the company traded hands, compared to its average volume of 1,378,648. The company's fifty day moving average is $251.80 and its two-hundred day moving average is $240.46. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $271.74. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The stock has a market cap of $52.61 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51.

Cencora (NYSE:COR - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's payout ratio is presently 31.29%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on COR. Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company increased their price objective on Cencora from $251.00 to $274.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. lifted their target price on Cencora from $289.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. StockNews.com raised shares of Cencora from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $280.20.

Cencora Profile

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.