Cencora, Inc. (NYSE:COR) is Mattern Capital Management LLC's 5th Largest Position

Mattern Capital Management LLC cut its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,570 shares of the company's stock after selling 1,128 shares during the quarter. Cencora makes up 1.7% of Mattern Capital Management LLC's investment portfolio, making the stock its 5th largest position. Mattern Capital Management LLC's holdings in Cencora were worth $13,229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Hoey Investments Inc. purchased a new stake in Cencora in the first quarter valued at approximately $28,000. Banque Transatlantique SA purchased a new stake in Cencora in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Cencora in the fourth quarter valued at approximately $30,000. Vermillion Wealth Management Inc. purchased a new stake in Cencora in the fourth quarter valued at approximately $38,000. Finally, OFI Invest Asset Management purchased a new stake in Cencora in the fourth quarter valued at approximately $41,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In related news, CEO Robert P. Mauch sold 4,969 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the completion of the sale, the chief executive officer now directly owns 47,582 shares of the company's stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Steven H. Collis sold 14,579 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $281.81, for a total transaction of $4,108,507.99. Following the sale, the chairman now directly owns 315,913 shares of the company's stock, valued at $89,027,442.53. The trade was a 4.41% decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.80% of the company's stock.

Cencora Price Performance

Cencora stock opened at $294.16 on Wednesday. Cencora, Inc. has a 52-week low of $218.65 and a 52-week high of $309.35. The firm has a fifty day moving average of $289.36 and a 200-day moving average of $263.98. The firm has a market capitalization of $57.02 billion, a P/E ratio of 34.13, a PEG ratio of 1.45 and a beta of 0.58. The company has a quick ratio of 0.52, a current ratio of 0.87 and a debt-to-equity ratio of 6.01.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion during the quarter, compared to analyst estimates of $75.41 billion. During the same quarter in the prior year, the business earned $3.80 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts predict that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Friday, May 16th. Cencora's payout ratio is 25.52%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COR shares. UBS Group boosted their target price on shares of Cencora from $298.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird boosted their target price on shares of Cencora from $314.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Citigroup boosted their target price on shares of Cencora from $330.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Morgan Stanley set a $288.00 target price on shares of Cencora in a report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Cencora from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

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