M3 Advisory Group LLC Sells 405 Shares of Cencora, Inc. (NYSE:COR)

M3 Advisory Group LLC cut its stake in Cencora, Inc. (NYSE:COR) by 22.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,378 shares of the company’s stock after selling 405 shares during the period. M3 Advisory Group LLC’s holdings in Cencora were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COR. Flagship Harbor Advisors LLC raised its position in shares of Cencora by 11.5% during the first quarter. Flagship Harbor Advisors LLC now owns 1,907 shares of the company’s stock valued at $530,000 after buying an additional 197 shares during the last quarter. Suncoast Equity Management increased its stake in Cencora by 2.4% during the first quarter. Suncoast Equity Management now owns 28,052 shares of the company’s stock valued at $7,801,000 after acquiring an additional 645 shares during the period. Perfromance Wealth Partners LLC bought a new position in Cencora during the first quarter valued at about $203,000. Advisor Resource Council acquired a new position in Cencora in the 1st quarter valued at approximately $494,000. Finally, Blue Trust Inc. lifted its position in shares of Cencora by 7.1% in the 1st quarter. Blue Trust Inc. now owns 1,094 shares of the company’s stock worth $304,000 after acquiring an additional 73 shares during the period. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Cencora Stock Down 1.0%

Shares of COR opened at $293.66 on Monday. The company has a market capitalization of $56.92 billion, a P/E ratio of 34.07, a PEG ratio of 1.45 and a beta of 0.58. Cencora, Inc. has a one year low of $218.65 and a one year high of $309.35. The business’s 50 day simple moving average is $288.98 and its 200-day simple moving average is $263.42. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52.

Cencora (NYSE:COR) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The firm had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter in the previous year, the company posted $3.80 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.75%. Cencora’s payout ratio is 25.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Cencora from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Robert W. Baird boosted their price target on shares of Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 price objective on shares of Cencora in a report on Tuesday, April 15th. Bank of America upped their target price on shares of Cencora from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company upgraded shares of Cencora from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $274.00 to $337.00 in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $306.91.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the transaction, the chairman now owns 317,913 shares of the company’s stock, valued at $85,680,732.63. This represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer now owns 47,582 shares of the company’s stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,126 shares of company stock valued at $9,475,106 over the last three months. 10.80% of the stock is 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.