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

Amalgamated Bank increased its holdings in shares of Cencora, Inc. (NYSE:COR) by 5.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 41,090 shares of the company’s stock after purchasing an additional 2,221 shares during the period. Amalgamated Bank’s holdings in Cencora were worth $12,321,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Cencora by 70.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 85 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Cencora by 106.7% during the 1st quarter. Cornerstone Planning Group LLC now owns 93 shares of the company’s stock valued at $26,000 after purchasing an additional 48 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Cencora during the 1st quarter valued at about $28,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Cencora during the 1st quarter valued at about $39,000. Finally, Olde Wealth Management LLC bought a new position in shares of Cencora during the 1st quarter valued at about $48,000. Institutional investors own 97.52% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on 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 sale, the chief executive officer owned 37,940 shares in the company, valued at approximately $12,398,792. This represents a 11.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $289.86, for a total value of $9,087,111.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,544 shares of company stock worth $12,230,941. 10.80% of the stock is owned by company insiders.

Cencora Trading Up 2.3%

Shares of Cencora stock opened at $340.82 on Friday. Cencora, Inc. has a 12-month low of $223.92 and a 12-month high of $350.46. The stock has a market cap of $66.08 billion, a P/E ratio of 35.06, a P/E/G ratio of 1.56 and a beta of 0.63. 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 business’s 50 day moving average is $307.18 and its 200-day moving average is $296.65.

Cencora (NYSE:COR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.79 by $0.21. Cencora had a return on equity of 267.36% and a net margin of 0.60%.The company had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Friday, August 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company boosted 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. Evercore ISI set a $340.00 target price on Cencora in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Cencora in a research note on Thursday. Wall Street Zen cut Cencora from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Mizuho boosted their target price on Cencora from $334.00 to $340.00 and gave the company an “outperform” rating in a research note on Thursday. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.55.

About Cencora

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.