Avior Wealth Management LLC Decreases Stock Position in Cencora, Inc. (NYSE:COR)

Avior Wealth Management LLC cut its position in Cencora, Inc. (NYSE:COR - Free Report) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,643 shares of the company's stock after selling 1,021 shares during the quarter. Avior Wealth Management LLC's holdings in Cencora were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Net Worth Advisory Group boosted its stake in shares of Cencora by 1.4% in the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company's stock valued at $736,000 after purchasing an additional 36 shares during the period. Whittier Trust Co. boosted its stake in Cencora by 0.6% during the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company's stock valued at $1,765,000 after acquiring an additional 44 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in Cencora by 1.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company's stock valued at $1,003,000 after acquiring an additional 47 shares during the last quarter. Permanent Capital Management LP boosted its stake in Cencora by 4.0% during the 1st quarter. Permanent Capital Management LP now owns 1,238 shares of the company's stock valued at $344,000 after acquiring an additional 48 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Cencora by 4.5% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock valued at $307,000 after acquiring an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on COR. Morgan Stanley set a $288.00 price objective on shares of Cencora in a research note on Tuesday, April 15th. Citigroup increased their price objective on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company upgraded shares of Cencora from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Bank of America increased their price objective on shares of Cencora from $270.00 to $285.00 and gave the company a "neutral" rating in a research note on Friday, April 11th. Finally, UBS Group increased their price objective on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Cencora currently has a consensus rating of "Moderate Buy" and an average target price of $306.91.

Cencora Trading Down 1.0%

Cencora stock opened at $293.66 on Friday. The firm's 50-day moving average is $288.98 and its 200-day moving average is $263.19. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. The company has a market cap of $56.92 billion, a P/E ratio of 34.07, a PEG ratio of 1.47 and a beta of 0.58.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion for the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the firm posted $3.80 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities 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, June 2nd. Investors of record on Friday, May 16th were issued a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora's dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $281.81, for a total value of $4,108,507.99. Following the sale, the chairman now owns 315,913 shares of the company's stock, valued at $89,027,442.53. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now directly owns 47,582 shares in the company, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,253 shares of company stock valued at $10,582,297 in the last quarter. Company insiders own 10.80% of the company's stock.

About Cencora

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.

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