Mattern Capital Management LLC Sells 653 Shares of Cencora, Inc. (NYSE:COR)

Mattern Capital Management LLC reduced its position in Cencora, Inc. (NYSE:COR) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 48,698 shares of the company’s stock after selling 653 shares during the quarter. Cencora comprises about 1.4% of Mattern Capital Management LLC’s holdings, making the stock its 9th largest position. Mattern Capital Management LLC’s holdings in Cencora were worth $10,941,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of COR. Swedbank AB increased its stake in Cencora by 2.3% in the 3rd quarter. Swedbank AB now owns 1,394,449 shares of the company’s stock valued at $313,863,000 after buying an additional 31,104 shares during the period. Foundations Investment Advisors LLC increased its stake in Cencora by 35.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,287 shares of the company’s stock valued at $1,190,000 after buying an additional 1,395 shares during the period. Sequoia Financial Advisors LLC increased its stake in Cencora by 23.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 6,630 shares of the company’s stock valued at $1,492,000 after buying an additional 1,245 shares during the period. Eastern Bank acquired a new position in Cencora in the 3rd quarter valued at $130,000. Finally, Waldron Private Wealth LLC increased its stake in Cencora by 31.5% in the 3rd quarter. Waldron Private Wealth LLC now owns 1,469 shares of the company’s stock valued at $331,000 after buying an additional 352 shares during the period. 97.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COR shares. Robert W. Baird upped their price target on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Barclays upped their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Mizuho started coverage on shares of Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Finally, Evercore ISI upped their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $277.90.

Insider Buying and Selling at Cencora

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $228.72, for a total value of $383,792.16. Following the transaction, the executive vice president now directly owns 20,329 shares in the company, valued at approximately $4,649,648.88. This represents a 7.62 % 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 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the transaction, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.80% of the stock is owned by insiders.

Cencora Price Performance

Cencora stock opened at $243.42 on Friday. Cencora, Inc. has a 52 week low of $214.77 and a 52 week high of $262.26. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 16.40. The firm’s 50-day simple moving average is $239.34 and its 200 day simple moving average is $237.46. The firm has a market capitalization of $47.20 billion, a PE ratio of 34.63, a P/E/G ratio of 1.29 and a beta of 0.49.

Cencora (NYSE:COR) last released its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. On average, equities research analysts predict that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. Cencora’s dividend payout ratio (DPR) is 31.29%.

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.