Cencora, Inc. $COR Stock Holdings Lessened by Mawer Investment Management Ltd.

Key Points

• Mawer Investment Management cut its Cencora stake by 7.6% in the third quarter, selling 113,237 shares and ending the period with 1.38 million shares worth about $413 million.
• Cencora’s quarterly results topped estimates: adjusted earnings were $4.66 per share versus $4.58 expected, while revenue reached $88.35 billion and rose 5.5% year over year. The company also raised its quarterly dividend from $0.60 to $0.66 per share.
• Shares rose 2.8% to $359.12 in Friday trading. Analysts’ average price target is $368.14, and the consensus rating is “Moderate Buy.”

Mawer Investment Management Ltd. trimmed its position in shares of Cencora, Inc. (NYSE:COR - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,375,606 shares of the company's stock after selling 113,237 shares during the period. Cencora comprises 3.0% of Mawer Investment Management Ltd.'s portfolio, making the stock its 8th largest position. Mawer Investment Management Ltd. owned 0.72% of Cencora worth $413,026,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC grew its stake in shares of Cencora by 1.3% in the third quarter. William Blair Investment Management LLC now owns 2,810 shares of the company's stock worth $844,000 after purchasing an additional 35 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Cencora by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company's stock valued at $662,000 after purchasing an additional 38 shares during the last quarter. Elmwood Wealth Management Inc. raised its position in Cencora by 0.9% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company's stock valued at $1,221,000 after purchasing an additional 40 shares during the last quarter. Signature Equity Partners LLC raised its position in Cencora by 4.6% during the 1st quarter. Signature Equity Partners LLC now owns 937 shares of the company's stock valued at $294,000 after purchasing an additional 41 shares during the last quarter. Finally, Mosley Wealth Management lifted its holdings in Cencora by 11.5% in the 3rd quarter. Mosley Wealth Management now owns 407 shares of the company's stock worth $122,000 after buying an additional 42 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Up 2.8%

Shares of Cencora stock traded up $9.74 during trading on Friday, hitting $359.12. The company's stock had a trading volume of 1,393,211 shares, compared to its average volume of 1,421,795. Cencora, Inc. has a 52 week low of $244.82 and a 52 week high of $377.54. The company has a market capitalization of $68.53 billion, a PE ratio of 20.04, a P/E/G ratio of 1.81 and a beta of 0.58. The company has a fifty day simple moving average of $327.12 and a two-hundred day simple moving average of $317.20. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.59 and a current ratio of 0.94.

Cencora (NYSE:COR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, topping the consensus estimate of $4.58 by $0.08. The business had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. Cencora had a net margin of 1.03% and a return on equity of 110.72%. Cencora's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 earnings per share. Equities research analysts predict that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be given a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Cencora's previous quarterly dividend of $0.60. Cencora's payout ratio is presently 13.39%.

Insider Buying and Selling at Cencora

In related news, EVP Elizabeth Campbell sold 11,300 shares of the company'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 value of $3,662,556.00. Following the sale, the executive vice president owned 19,455 shares in the company, valued at $6,305,754.60. This represents a 36.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Cencora from $373.00 to $375.00 and gave the stock an "outperform" rating in a research report on Thursday, October 22nd. Bank of America upped their target price on Cencora from $285.00 to $310.00 in a report on Tuesday, July 21st. Weiss Ratings raised Cencora from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. UBS Group dropped their price target on Cencora from $430.00 to $400.00 and set a "buy" rating for the company in a research note on Friday, October 16th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $330.00 price target on shares of Cencora in a report on Tuesday, September 8th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Cencora has an average rating of "Moderate Buy" and an average target price of $368.14.

Cencora Company Profile

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.

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