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

M3 Advisory Group LLC cut its stake in shares of Cencora, Inc. (NYSE:COR) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC boosted its holdings in Cencora by 11.5% during the first quarter. Flagship Harbor Advisors LLC now owns 1,907 shares of the company’s stock worth $530,000 after buying an additional 197 shares during the last quarter. Suncoast Equity Management raised its position in shares of Cencora by 2.4% in the 1st 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 1st quarter worth approximately $203,000. Advisor Resource Council acquired a new position in Cencora during the first quarter valued at approximately $494,000. Finally, Blue Trust Inc. grew its holdings in Cencora by 7.1% during the first quarter. Blue Trust Inc. now owns 1,094 shares of the company’s stock valued at $304,000 after purchasing an additional 73 shares during the period. Institutional investors own 97.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 317,913 shares in the company, valued at approximately $85,680,732.63. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Mauch sold 4,969 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total value of $1,437,680.77. Following the transaction, the chief executive officer now directly owns 47,582 shares of the company’s stock, valued at $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,126 shares of company stock worth $9,475,106. 10.80% of the stock is owned by insiders.

Cencora Stock Performance

COR opened at $293.66 on Monday. The company has a market capitalization of $56.92 billion, a price-to-earnings ratio of 34.07, a P/E/G ratio of 1.45 and a beta of 0.58. The business’s 50-day moving average price is $288.98 and its two-hundred day moving average price is $263.42. Cencora, Inc. has a 1 year low of $218.65 and a 1 year high of $309.35. 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 announced its earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. The business had revenue of $75.50 billion for the quarter, compared to analyst estimates of $75.41 billion. Cencora had a return on equity of 344.71% and a net margin of 0.55%. Cencora’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $3.80 EPS. Equities analysts expect 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 issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, May 16th. Cencora’s payout ratio is 25.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup increased 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. Robert W. Baird upped their price objective 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. Morgan Stanley set a $288.00 target price on Cencora in a report on Tuesday, April 15th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Bank of America raised their price target on Cencora from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, April 11th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.91.

Cencora 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.