Amalgamated Bank Buys 2,221 Shares of Cencora, Inc. $COR

Amalgamated Bank raised its stake in shares of Cencora, Inc. (NYSE:COR) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,090 shares of the company’s stock after acquiring an additional 2,221 shares during the quarter. Amalgamated Bank’s holdings in Cencora were worth $12,321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Cencora by 70.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of Cencora by 106.7% in the first quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after buying an additional 48 shares in the last quarter. Costello Asset Management INC acquired a new stake in shares of Cencora in the first quarter valued at $28,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cencora in the first quarter valued at $39,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Cencora in the first quarter valued at $48,000. 97.52% of the stock is owned by institutional investors.

Cencora Price Performance

Shares of COR stock opened at $340.82 on Friday. The stock has a 50-day moving average price of $307.18 and a 200 day moving average price of $296.65. The company has a quick ratio of 0.53, a current ratio of 0.90 and a debt-to-equity ratio of 3.64. The firm has a market cap of $66.08 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 1.56 and a beta of 0.63. Cencora, Inc. has a 12 month low of $223.92 and a 12 month high of $350.46.

Cencora (NYSE:COR) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $3.34 earnings per share. Research analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. Cencora’s dividend payout ratio (DPR) is 22.63%.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 31,350 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the transaction, the chairman owned 305,913 shares in the company, valued at approximately $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 5,097 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $326.80, for a total value of $1,665,699.60. Following the transaction, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This trade represents a 11.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 41,544 shares of company stock worth $12,230,941. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COR. Morgan Stanley set a $330.00 target price on Cencora and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Cencora in a research note on Thursday. Wall Street Zen lowered Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Wells Fargo & Company raised their target price on Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research note on Wednesday, August 13th. Finally, Mizuho lifted their price objective on Cencora from $334.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $329.55.

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.