Financial Advisors Network Inc. Has $305,000 Stock Holdings in Cencora, Inc. $COR

Key Points

• Financial Advisors Network Inc. reduced its holdings in Cencora, Inc. by 47.9% during Q1, now owning 1,098 shares valued at $305,000.
• Insider transactions included CEO Robert P. Mauch selling 4,968 shares for approximately $1.46 million, and Chairman Steven H. Collis selling 14,578 shares for about $4.27 million.
• Cencora recently declared a quarterly dividend of $0.55 per share with a record date of August 15, representing a 0.8% dividend yield.

Financial Advisors Network Inc. lowered its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 47.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,098 shares of the company's stock after selling 1,011 shares during the quarter. Financial Advisors Network Inc.'s holdings in Cencora were worth $305,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in Cencora in the fourth quarter valued at $67,000. GeoWealth Management LLC boosted its stake in shares of Cencora by 5.4% during the 4th quarter. GeoWealth Management LLC now owns 2,642 shares of the company's stock worth $594,000 after buying an additional 136 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cencora by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,511,004 shares of the company's stock valued at $339,494,000 after acquiring an additional 78,759 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Cencora in the 4th quarter valued at about $1,652,000. Finally, Norinchukin Bank The increased its position in shares of Cencora by 10.1% in the fourth quarter. Norinchukin Bank The now owns 7,970 shares of the company's stock valued at $1,791,000 after acquiring an additional 733 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Price Performance

Shares of NYSE COR traded down $10.9810 during trading hours on Friday, hitting $292.2490. 1,706,519 shares of the stock were exchanged, compared to its average volume of 1,331,423. The company's fifty day simple moving average is $293.48 and its two-hundred day simple moving average is $280.44. The company has a market cap of $56.66 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.58. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.53 and a current ratio of 0.90. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35.

Cencora (NYSE:COR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The business had revenue of $80.66 billion during the quarter, compared to the consensus estimate of $80.34 billion. During the same period in the previous year, the business earned $3.34 earnings per share. The company's revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Dividend Announcement

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

Analyst Ratings Changes

COR has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Robert W. Baird raised their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group upped their price target on shares of Cencora from $275.00 to $300.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. UBS Group increased their price target on Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley set a $330.00 target price on shares of Cencora and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $311.25.

Insider Activity

In other Cencora news, Chairman Steven H. Collis sold 14,579 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the sale, the chairman owned 311,913 shares of the company's stock, valued at approximately $91,271,982.06. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $294.11, for a total value of $1,461,138.48. Following the completion of the transaction, the chief executive officer 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. In the last three months, insiders have sold 34,125 shares of company stock valued at $9,993,789. 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.