M3 Advisory Group LLC Has $412,000 Position in Cencora, Inc. (NYSE:COR)

M3 Advisory Group LLC raised its position in Cencora, Inc. (NYSE:COR) by 9.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,828 shares of the company’s stock after acquiring an additional 158 shares during the quarter. M3 Advisory Group LLC’s holdings in Cencora were worth $412,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COR. Fisher Asset Management LLC acquired a new stake in Cencora in the fourth quarter valued at $244,000. First Hawaiian Bank acquired a new stake in shares of Cencora during the 1st quarter worth about $1,621,000. Rise Advisors LLC acquired a new stake in shares of Cencora during the 1st quarter worth about $25,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Cencora during the 1st quarter worth about $235,000. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Cencora during the 1st quarter worth about $1,819,000. Institutional investors and hedge funds own 97.52% of the company’s stock.

Cencora Price Performance

COR stock traded down $0.21 during mid-day trading on Friday, hitting $235.43. The stock had a trading volume of 142,696 shares, compared to its average volume of 1,418,465. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. Cencora, Inc. has a 52 week low of $182.75 and a 52 week high of $247.66. The firm has a market capitalization of $46.96 billion, a P/E ratio of 25.78, a P/E/G ratio of 1.40 and a beta of 0.44. The firm has a fifty day simple moving average of $232.39 and a 200 day simple moving average of $231.18.

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

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.87%. Cencora’s payout ratio is currently 22.32%.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the sale, the insider now directly owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Silvana Battaglia sold 1,473 shares of Cencora stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the sale, the executive vice president now directly owns 10,948 shares in the company, valued at $2,656,970.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of Cencora stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the sale, the insider now owns 19,980,000 shares in the company, valued at approximately $4,806,388,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on COR shares. JPMorgan Chase & Co. raised their target price on shares of Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird cut their target price on shares of Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Evercore ISI lowered their price target on shares of Cencora from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.44.

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.