Mather Group LLC. Increases Stock Holdings in Cencora, Inc. (NYSE:COR)

Mather Group LLC. raised its stake in Cencora, Inc. (NYSE:COR) by 8.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,828 shares of the company’s stock after acquiring an additional 213 shares during the period. Mather Group LLC.’s holdings in Cencora were worth $786,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in shares of Cencora in the 1st quarter valued at $28,000. Banque Transatlantique SA purchased a new position in Cencora during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new position in Cencora in the fourth quarter valued at $30,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Cencora in the fourth quarter valued at about $38,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Cencora during the fourth quarter worth about $41,000. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 4,969 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $289.33, for a total value of $1,437,680.77. Following the completion of the sale, the chief executive officer owned 47,582 shares of the company’s stock, valued at approximately $13,766,900.06. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 14,579 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $292.62, for a total value of $4,266,106.98. Following the completion of the sale, the chairman directly owned 311,913 shares of the company’s stock, valued at approximately $91,271,982.06. This trade represents a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,127 shares of company stock valued at $9,812,296. 10.80% of the stock is owned by corporate insiders.

Cencora Stock Performance

NYSE:COR opened at $291.07 on Thursday. The firm’s fifty day moving average price is $290.63 and its 200 day moving average price is $266.30. Cencora, Inc. has a 1-year low of $218.65 and a 1-year high of $309.35. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. The firm has a market cap of $56.41 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 1.46 and a beta of 0.57.

Cencora (NYSE:COR) last released its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a return on equity of 344.71% and a net margin of 0.55%. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same quarter last year, the company earned $3.80 earnings per share. Cencora’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, May 16th. Cencora’s dividend payout ratio (DPR) is currently 25.52%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup boosted their price target on Cencora from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Robert W. Baird lifted their target price on Cencora from $314.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Morgan Stanley set a $288.00 price target on Cencora in a research note on Tuesday, April 15th. Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $274.00 to $337.00 in a report on Tuesday, June 3rd. Finally, Jefferies Financial Group lifted their price objective on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $306.33.

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.