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

Janney Montgomery Scott LLC lessened its stake in Cencora, Inc. (NYSE:COR) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD bought a new position in Cencora in the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. acquired a new position in shares of Cencora during the first quarter valued at $1,199,695,000. Boston Partners bought a new position in Cencora in the first quarter valued at about $1,001,269,000. Capital Research Global Investors bought a new position in Cencora in the first quarter valued at about $650,424,000. Finally, Bessemer Group Inc. bought a new stake in Cencora during the 1st quarter worth about $556,245,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the topic of several recent research reports. Leerink Partners reduced their target price on shares of 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 lifted their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company lifted their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.20.

Cencora Stock Up 1.0 %

Shares of Cencora stock opened at $247.76 on Friday. The company has a market capitalization of $48.82 billion, a P/E ratio of 32.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. The business has a 50-day moving average of $231.77 and a two-hundred day moving average of $230.76. Cencora, Inc. has a 1 year low of $191.11 and a 1 year high of $250.80.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, November 6th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.13. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The business had revenue of $79.05 billion during the quarter, compared to analysts’ expectations of $77.68 billion. As a group, equities analysts predict that Cencora, Inc. will post 13.64 EPS for the current year.

Cencora Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s payout ratio is currently 29.29%.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated 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 sale, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 15.80% of the company’s stock.

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.