148,544 Cencora, Inc. $COR Shares Bought by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman increased its Cencora stake by 29.1% in the third quarter, buying 148,544 shares to hold 658,222 shares valued at about $197.6 million. Institutional investors collectively own 97.52% of the company.
• Cencora beat quarterly earnings and revenue estimates, reporting EPS of $4.66 and revenue of $88.35 billion; revenue rose 5.5% year over year. The company also raised its quarterly dividend from $0.60 to $0.66 per share.
• Analysts give Cencora a consensus “Moderate Buy” rating, with an average price target of $366.50. Shares opened at $346.16 in the session described.

Beutel Goodman & Co Ltd. boosted its holdings in shares of Cencora, Inc. (NYSE:COR - Free Report) by 29.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 658,222 shares of the company's stock after purchasing an additional 148,544 shares during the quarter. Beutel Goodman & Co Ltd. owned about 0.34% of Cencora worth $197,631,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Elevation Wealth Partners LLC increased its holdings in shares of Cencora by 506.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 97 shares of the company's stock worth $27,000 after buying an additional 81 shares during the last quarter. Bell Investment Advisors Inc purchased a new stake in shares of Cencora during the 2nd quarter valued at about $28,000. Caitlin John LLC bought a new position in shares of Cencora in the 2nd quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Cencora in the 1st quarter valued at about $35,000. Finally, Lynch Investment Planning LLC bought a new position in shares of Cencora in the 3rd quarter valued at about $39,000. Institutional investors own 97.52% of the company's stock.

Cencora Trading Up 3.8%

Shares of COR opened at $346.16 on Tuesday. The company's fifty day simple moving average is $325.56 and its 200-day simple moving average is $317.25. The company has a market cap of $66.06 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.01. Cencora, Inc. has a twelve month low of $244.82 and a twelve month high of $377.54.

Cencora (NYSE:COR - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, topping analysts' consensus estimates of $4.58 by $0.08. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The firm had revenue of $88.35 billion during the quarter, compared to analysts' expectations of $87.95 billion. During the same period in the previous year, the company earned $3.84 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts expect that Cencora, Inc. will post 19.58 EPS for the current year.

Cencora Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is an increase from Cencora's previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a yield of 0.8%. Cencora's payout ratio is 13.39%.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the completion of the transaction, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. The trade was a 36.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COR. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price target on shares of Cencora in a research report on Tuesday, September 8th. Evercore restated an "outperform" rating and set a $350.00 price objective (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Morgan Stanley upped their price objective on Cencora from $346.00 to $377.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Weiss Ratings raised Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded Cencora from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $366.50.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.

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