Janney Montgomery Scott LLC Has $8.81 Million Position in Cencora, Inc. (NYSE:COR)

Janney Montgomery Scott LLC cut its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,141 shares of the company's stock after selling 2,988 shares during the quarter. Janney Montgomery Scott LLC's holdings in Cencora were worth $8,810,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Cencora during the second quarter worth $26,000. TCTC Holdings LLC bought a new position in Cencora in the first quarter worth about $29,000. TFO Wealth Partners LLC acquired a new position in Cencora in the first quarter valued at approximately $30,000. MFA Wealth Advisors LLC bought a new position in shares of Cencora during the second quarter valued at approximately $30,000. Finally, Concord Wealth Partners bought a new position in Cencora in the 3rd quarter worth about $30,000. 97.52% of the stock is owned by institutional investors and hedge funds.

Cencora Trading Up 0.6 %

COR stock traded up $1.51 during midday trading on Friday, hitting $249.27. 453,865 shares of the company's stock were exchanged, compared to its average volume of 1,405,604. The company has a market cap of $49.12 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44. Cencora, Inc. has a one year low of $191.11 and a one year high of $251.00. The stock's fifty day moving average price is $231.77 and its 200-day moving average price is $230.76. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.13. The business had revenue of $79.05 billion during the quarter, compared to the consensus estimate of $77.68 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. Research analysts predict that Cencora, Inc. will post 13.64 earnings per share for the current fiscal year.

Cencora Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora's previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.88%. Cencora's payout ratio is 29.29%.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COR has been the topic of a number of analyst reports. Leerink Partners dropped their price target on Cencora from $277.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Evercore ISI increased their price target on shares of Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research report on Thursday. Wells Fargo & Company increased their target price on shares of Cencora from $236.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 1st. Robert W. Baird boosted their target price on Cencora from $287.00 to $292.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Barclays upped their price target on Cencora from $263.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $271.20.

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.