MBB Public Markets I LLC Takes Position in Cencora, Inc. $COR

Key Points

• MBB Public Markets I LLC has invested approximately $333,000 in Cencora, acquiring 1,198 shares during the first quarter of the year.
• Insider transactions indicated a significant sale by Chairman Steven H. Collis, who sold 14,578 shares for over $4.2 million, and CEO Robert P. Mauch also sold shares valued at approximately $1.46 million.
• Cencora reported a year-over-year revenue increase of 8.7%, along with earnings per share of $4.00, exceeding analysts' expectations.

MBB Public Markets I LLC bought a new stake in shares of Cencora, Inc. (NYSE:COR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,198 shares of the company's stock, valued at approximately $333,000.

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its position 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 buying an additional 48 shares in the last quarter. Hoey Investments Inc. bought a new position in Cencora during the 1st quarter valued at about $28,000. Costello Asset Management INC bought a new position in Cencora during the 1st quarter valued at about $28,000. Vermillion Wealth Management Inc. bought a new position in Cencora during the 4th quarter valued at about $38,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Cencora during the 1st quarter valued at about $39,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Trading Up 0.0%

COR stock traded up $0.03 during mid-day trading on Friday, reaching $302.83. The company had a trading volume of 1,189,360 shares, compared to its average volume of 1,313,938. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. The company has a market capitalization of $58.71 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.62. The firm has a 50 day moving average of $293.24 and a 200 day moving average of $285.50. Cencora, Inc. has a 12 month low of $218.65 and a 12 month high of $309.35.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $4.00 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.21. The business had revenue of $80.66 billion for the quarter, compared to the consensus estimate of $80.34 billion. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.34 EPS. On average, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Cencora's dividend payout ratio (DPR) is currently 22.63%.

Insider Buying and Selling

In other news, CEO Robert P. Mauch sold 4,968 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the transaction, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This trade represents a 10.50% decrease in their ownership of the stock. 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 stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total transaction of $4,266,106.98. Following the transaction, the chairman owned 311,913 shares in the company, valued at approximately $91,271,982.06. This represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,125 shares of company stock worth $9,993,789. Insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COR. Wells Fargo & Company upped their price target on shares of Cencora from $337.00 to $354.00 and gave the company an "overweight" rating in a report on Wednesday, August 13th. Jefferies Financial Group upped their price target on shares of Cencora from $275.00 to $300.00 and gave the company a "hold" rating in a report on Monday, June 30th. Finally, Morgan Stanley set a $330.00 price target on shares of Cencora and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cencora presently has a consensus rating of "Moderate Buy" and a consensus price target of $311.25.

Cencora Company 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.