Atria Wealth Solutions Inc. lessened its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,227 shares of the company's stock after selling 1,394 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cencora were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Bank of America Corp DE raised its holdings 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 acquiring an additional 1,994,256 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Cencora during the fourth quarter valued at approximately $399,508,000. GAMMA Investing LLC raised its holdings in Cencora by 43,561.9% in the first quarter. GAMMA Investing LLC now owns 1,598,461 shares of the company's stock worth $444,516,000 after purchasing an additional 1,594,800 shares in the last quarter. Close Asset Management Ltd bought a new position in Cencora in the first quarter worth $110,629,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Cencora by 67.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 844,179 shares of the company's stock worth $189,670,000 after purchasing an additional 340,862 shares in the last quarter. Institutional investors own 97.52% of the company's stock.
Insider Buying and Selling
In related news, Chairman Steven H. Collis sold 14,579 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Mauch sold 4,968 shares of the firm's stock in a transaction 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 directly owned 42,351 shares of the company's stock, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,125 shares of company stock valued at $9,993,789 in the last three months. Insiders own 10.80% of the company's stock.
Analysts Set New Price Targets
COR has been the subject of a number of research reports. Jefferies Financial Group increased their price objective on Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a report on Monday, June 30th. Citigroup increased their price objective on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company set a $354.00 price objective on Cencora and gave the company an "overweight" rating in a research report on Wednesday. Finally, Morgan Stanley set a $330.00 price objective on Cencora and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Cencora has an average rating of "Moderate Buy" and a consensus price target of $311.25.
Get Our Latest Stock Analysis on COR
Cencora Stock Performance
Shares of COR stock traded up $3.52 during mid-day trading on Wednesday, reaching $292.67. The stock had a trading volume of 293,589 shares, compared to its average volume of 1,567,211. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a current ratio of 0.90, a quick ratio of 0.53 and a debt-to-equity ratio of 3.64. The firm has a market cap of $56.72 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.38 and a beta of 0.58. The business's fifty day moving average is $292.44 and its 200-day moving average is $278.38.
Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The firm had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a return on equity of 267.36% and a net margin of 0.60%. The company's revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.34 earnings per share. On average, research analysts forecast that Cencora, Inc. will post 15.37 earnings per share for the current year.
Cencora Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.8%. Cencora's dividend payout ratio is presently 22.63%.
Cencora Company Profile
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Free Report)
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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