Amalgamated Bank Sells 489 Shares of Cencora, Inc. (NYSE:COR)

Amalgamated Bank trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 1.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 35,741 shares of the company’s stock after selling 489 shares during the quarter. Amalgamated Bank’s holdings in Cencora were worth $8,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Cencora during the fourth quarter valued at $4,212,508,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Cencora during the 1st quarter valued at about $2,183,619,000. JPMorgan Chase & Co. purchased a new stake in shares of Cencora during the 1st quarter valued at about $1,199,695,000. Boston Partners bought a new position in shares of Cencora in the 1st quarter worth approximately $1,001,269,000. Finally, Capital Research Global Investors purchased a new position in shares of Cencora in the first quarter worth approximately $650,424,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on COR. Robert W. Baird reduced their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Wells Fargo & Company raised their target price on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America reissued a “neutral” rating and set a $245.00 price target (down previously from $275.00) on shares of Cencora in a report on Wednesday. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $256.67.

Cencora Stock Down 0.8 %

Shares of COR opened at $226.56 on Friday. Cencora, Inc. has a 12-month low of $178.21 and a 12-month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a market capitalization of $45.19 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.55 and a beta of 0.44. The business’s 50 day moving average is $234.73 and its 200 day moving average is $233.18.

Cencora (NYSE:COR) last released its earnings results on Wednesday, July 31st. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.18 by $0.16. The firm had revenue of $74.20 billion for the quarter, compared to the consensus estimate of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.92 earnings per share. Research analysts expect that Cencora, Inc. will post 13.63 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. Cencora’s dividend payout ratio (DPR) is 22.32%.

Insider Transactions at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the sale, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,450,399 shares of company stock valued at $1,070,392,799. 15.80% of the stock is currently owned by insiders.

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.