Atlas Legacy Advisors LLC Reduces Holdings in Cencora, Inc. (NYSE:COR)

Key Points

• Atlas Legacy Advisors LLC decreased its holdings in Cencora, Inc. by 22.7% in the first quarter, now owning 3,203 shares valued at $891,000 according to their recent SEC filing.
• CEO Robert P. Mauch sold 4,968 shares of Cencora's stock, while Chairman Steven H. Collis sold 14,578 shares, marking notable insider transactions.
• Cencora recently declared a $0.55 dividend per share, with an annual yield of 0.76%, reflecting a payout ratio of 25.52%.

Atlas Legacy Advisors LLC reduced its stake in Cencora, Inc. (NYSE:COR - Free Report) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,203 shares of the company's stock after selling 938 shares during the period. Atlas Legacy Advisors LLC's holdings in Cencora were worth $891,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Cencora by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,859,452 shares of the company's stock valued at $1,990,542,000 after buying an additional 78,066 shares in the last quarter. Bank of America Corp DE increased its position in shares of Cencora by 62.3% during the fourth quarter. Bank of America Corp DE now owns 5,193,807 shares of the company's stock valued at $1,166,944,000 after buying an additional 1,994,256 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cencora by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 4,326,064 shares of the company's stock valued at $969,471,000 after purchasing an additional 130,213 shares during the period. Invesco Ltd. boosted its holdings in shares of Cencora by 20.4% during the 4th quarter. Invesco Ltd. now owns 3,243,531 shares of the company's stock valued at $728,757,000 after buying an additional 550,246 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Cencora by 11.6% in the fourth quarter. Northern Trust Corp now owns 2,421,237 shares of the company's stock worth $544,004,000 after purchasing an additional 252,028 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Down 1.6%

NYSE COR traded down $4.73 on Thursday, reaching $287.07. 568,389 shares of the stock traded hands, compared to its average volume of 1,568,847. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35. The company has a debt-to-equity ratio of 6.01, a quick ratio of 0.52 and a current ratio of 0.87. The company has a fifty day moving average price of $293.13 and a 200-day moving average price of $275.35. The company has a market cap of $55.64 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.44 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $75.41 billion. During the same period in the prior year, the business earned $3.80 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's dividend payout ratio is currently 25.52%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company raised Cencora from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $274.00 to $337.00 in a research report on Tuesday, June 3rd. Robert W. Baird upped their price target on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup upped their target price on shares of Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Jefferies Financial Group boosted their target price on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $294.11, for a total value of $1,461,138.48. Following the sale, the chief executive officer owned 42,351 shares in the company, valued at $12,455,852.61. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $292.62, for a total value of $4,266,106.98. Following the sale, the chairman directly owned 311,913 shares in the company, valued at $91,271,982.06. This represents a 4.47% 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 currently owned by insiders.

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.