Cencora, Inc. $COR Shares Sold by Fulton Bank N.A.

Key Points

• Fulton Bank N.A. reduced its stake in Cencora, Inc. by 17.7%, owning 4,154 shares worth approximately $1.25 million at the end of the most recent quarter.
• Cencora reported $4.00 EPS for the last quarter, beating the consensus estimate by $0.21, with revenue of $80.66 billion, up 8.7% from the previous year.
• The company announced a quarterly dividend of $0.55 per share, contributing to an annualized dividend of $2.20 and a yield of 0.8%.

Fulton Bank N.A. lessened its holdings in Cencora, Inc. (NYSE:COR - Free Report) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,154 shares of the company's stock after selling 895 shares during the quarter. Fulton Bank N.A.'s holdings in Cencora were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company's stock valued at $26,000 after acquiring an additional 48 shares during the period. Hoey Investments Inc. acquired a new stake in shares of Cencora during the 1st quarter valued at approximately $28,000. Costello Asset Management INC acquired a new stake in shares of Cencora during the 1st quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Cencora during the 4th quarter valued at approximately $38,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora during the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COR shares. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a research report on Monday, June 30th. Wells Fargo & Company lifted their price objective on Cencora from $337.00 to $354.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Cencora currently has an average rating of "Moderate Buy" and an average price target of $311.25.

Cencora Price Performance

Shares of Cencora stock traded down $0.52 during trading on Friday, hitting $290.32. 7,182,669 shares of the company were exchanged, compared to its average volume of 1,405,903. The firm has a 50 day moving average price of $292.42 and a 200 day moving average price of $286.81. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The stock has a market capitalization of $56.29 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.38 and a beta of 0.62. Cencora, Inc. has a fifty-two week low of $218.65 and a fifty-two week high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to analyst estimates of $80.34 billion. During the same quarter in the prior year, the company posted $3.34 EPS. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's dividend payout ratio is currently 22.63%.

Insiders Place Their Bets

In other news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Steven H. Collis sold 31,350 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total value of $9,087,111.00. Following the sale, the chairman owned 305,913 shares of the company's stock, valued at approximately $88,671,942.18. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,475 shares of company stock worth $19,080,900. Corporate insiders own 10.80% 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.