Cencora, Inc. $COR Shares Sold by Logan Capital Management Inc.

Key Points

• Logan Capital Management Inc. reduced its stake in Cencora, Inc. by 16.1%, holding 15,942 shares valued at approximately $4.43 million after selling 3,048 shares.
• GAMMA Investing LLC significantly increased its stake by 43,561.9%, acquiring an additional 1,594,800 shares, which brings their total to 1,598,461 shares worth around $444.5 million.
• Cencora announced a quarterly dividend of $0.55, translating to a yield of 0.7%, with a payout ratio currently at 22.63%.

Logan Capital Management Inc. trimmed its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 16.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,942 shares of the company's stock after selling 3,048 shares during the period. Logan Capital Management Inc.'s holdings in Cencora were worth $4,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of COR. GAMMA Investing LLC lifted its position in shares of Cencora by 43,561.9% during the 1st quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock valued at $444,516,000 after acquiring an additional 1,594,800 shares during the period. Invesco Ltd. lifted its position in shares of Cencora by 42.1% during the 1st quarter. Invesco Ltd. now owns 4,607,964 shares of the company's stock valued at $1,281,429,000 after acquiring an additional 1,364,433 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Cencora by 4,459.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 997,233 shares of the company's stock valued at $277,321,000 after acquiring an additional 975,362 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Cencora by 8.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,647,310 shares of the company's stock valued at $2,682,821,000 after acquiring an additional 787,858 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Cencora during the 1st quarter valued at approximately $181,284,000. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cencora

In other Cencora news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the completion of the sale, the chairman directly owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,968 shares of Cencora stock in a transaction that occurred 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 of the company's stock, valued at $12,455,852.61. The trade was a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Cencora Trading Up 0.3%

Shares of COR opened at $298.64 on Wednesday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The firm has a 50 day simple moving average of $292.87 and a 200-day simple moving average of $284.65. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The stock has a market cap of $57.90 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping the consensus estimate of $3.79 by $0.21. The firm had revenue of $80.66 billion during the quarter, compared to analysts' expectations of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. Cencora's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.34 EPS. Equities analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora's payout ratio is presently 22.63%.

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.

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