Cencora, Inc. (NYSE:COR) Stock Holdings Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,526 shares of the company's stock after selling 8,705 shares during the period. Wedge Capital Management L L P NC owned about 0.06% of Cencora worth $28,203,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its position in Cencora by 1.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company's stock worth $769,000 after purchasing an additional 43 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Cencora by 1.0% during the third quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company's stock worth $1,001,000 after buying an additional 46 shares during the period. Prime Capital Investment Advisors LLC grew its holdings in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company's stock worth $848,000 after buying an additional 46 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in Cencora by 1.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company's stock valued at $826,000 after acquiring an additional 48 shares during the period. Finally, Impact Partnership Wealth LLC raised its stake in Cencora by 2.6% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,042 shares of the company's stock valued at $460,000 after acquiring an additional 51 shares in the last quarter. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COR. Evercore ISI increased their price target on Cencora from $250.00 to $285.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com downgraded shares of Cencora from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 20th. UBS Group upped their price target on shares of Cencora from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an "outperform" rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company cut their target price on Cencora from $249.00 to $237.00 and set an "equal weight" rating for the company in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.60.

Cencora Price Performance

Shares of NYSE:COR traded up $1.22 on Friday, reaching $242.11. 1,492,998 shares of the company traded hands, compared to its average volume of 993,012. The stock has a market capitalization of $46.80 billion, a PE ratio of 32.24, a P/E/G ratio of 1.48 and a beta of 0.49. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company's 50 day moving average is $237.52 and its 200-day moving average is $233.93. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $253.27.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.55 dividend. This is a positive change from Cencora's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Cencora's dividend payout ratio (DPR) is 29.29%.

Insider Buying and Selling

In other news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Silvana Battaglia sold 1,678 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,696 shares of company stock valued at $22,862,734. 15.80% of the stock is owned by corporate insiders.

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.