Ferguson Wellman Capital Management Inc. Reduces Position in Cencora, Inc. (NYSE:COR)

Ferguson Wellman Capital Management Inc. reduced its stake in Cencora, Inc. (NYSE:COR) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,662 shares of the company’s stock after selling 1,059 shares during the quarter. Ferguson Wellman Capital Management Inc. owned approximately 0.06% of Cencora worth $28,734,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Metis Global Partners LLC boosted its stake in shares of Cencora by 2.0% in the third quarter. Metis Global Partners LLC now owns 8,719 shares of the company’s stock valued at $1,962,000 after purchasing an additional 175 shares during the period. Schrum Private Wealth Management LLC purchased a new position in Cencora in the third quarter valued at $290,000. Oppenheimer & Co. Inc. boosted its holdings in Cencora by 2.0% in the third quarter. Oppenheimer & Co. Inc. now owns 5,850 shares of the company’s stock valued at $1,317,000 after purchasing an additional 115 shares during the period. First Heartland Consultants Inc. increased its holdings in Cencora by 3.6% during the 3rd quarter. First Heartland Consultants Inc. now owns 2,288 shares of the company’s stock worth $515,000 after purchasing an additional 79 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its position in Cencora by 1.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after purchasing an additional 46 shares in the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction that occurred 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 transaction, the chairman now directly owns 285,088 shares in the company, valued at $67,223,750.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.80% of the stock is currently owned by company insiders.

Cencora Price Performance

Shares of NYSE:COR traded down $2.24 during trading on Thursday, hitting $247.73. 47,972 shares of the stock were exchanged, compared to its average volume of 1,401,661. Cencora, Inc. has a 12-month low of $191.11 and a 12-month high of $251.56. The company has a market cap of $48.82 billion, a PE ratio of 33.28, a P/E/G ratio of 1.66 and a beta of 0.44. The company has a fifty day moving average price of $232.38 and a two-hundred day moving average price of $231.00. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84.

Cencora Increases Dividend

The firm also recently disclosed 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. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. This is a boost from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio is presently 27.16%.

Analyst Ratings Changes

COR has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $271.20.

Cencora Company 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.