Mawer Investment Management Ltd. Sells 32,106 Shares of Cencora, Inc. (NYSE:COR)

Key Points

• Mawer Investment Management Ltd. reduced its holdings in Cencora, Inc. by 4.5%, ending the quarter with 685,817 shares valued at approximately $190.72 million.
• Cencora recently reported earnings of $4.42 per share, surpassing the consensus estimate by $0.35 and demonstrating a 10.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 0.77% with a payout ratio of 25.52%.

Mawer Investment Management Ltd. lowered its stake in shares of Cencora, Inc. (NYSE:COR - Free Report) by 4.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,817 shares of the company's stock after selling 32,106 shares during the quarter. Mawer Investment Management Ltd. owned about 0.35% of Cencora worth $190,719,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC boosted its position in Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company's stock worth $307,000 after purchasing an additional 48 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in shares of Cencora by 6.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 1,535 shares of the company's stock worth $427,000 after buying an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cencora by 57.0% during the first quarter. GAMMA Investing LLC now owns 5,748 shares of the company's stock worth $1,598,000 after buying an additional 2,087 shares during the last quarter. Westpac Banking Corp lifted its holdings in shares of Cencora by 13.5% during the fourth quarter. Westpac Banking Corp now owns 21,895 shares of the company's stock worth $4,919,000 after buying an additional 2,596 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Cencora by 157.6% during the first quarter. Golden State Wealth Management LLC now owns 170 shares of the company's stock worth $47,000 after buying an additional 104 shares during the last quarter. Institutional investors own 97.52% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group upped their price target on Cencora from $298.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company upgraded Cencora from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $274.00 to $337.00 in a research note on Tuesday, June 3rd. Bank of America increased their price objective on Cencora from $270.00 to $285.00 and gave the stock a "neutral" rating in a research note on Friday, April 11th. Robert W. Baird increased their price objective on Cencora from $314.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Citigroup increased their target price on Cencora from $330.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $309.83.

Cencora Stock Up 0.7%

COR stock traded up $2.11 during mid-day trading on Friday, reaching $288.19. The company had a trading volume of 704,524 shares, compared to its average volume of 1,568,681. The company has a debt-to-equity ratio of 6.01, a current ratio of 0.87 and a quick ratio of 0.52. Cencora, Inc. has a 52 week low of $218.65 and a 52 week high of $309.35. The stock has a 50 day simple moving average of $293.13 and a two-hundred day simple moving average of $275.35. The company has a market capitalization of $55.86 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 1.45 and a beta of 0.57.

Cencora (NYSE:COR - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $4.42 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the company posted $3.80 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a $0.55 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.20 annualized dividend and a yield of 0.8%. Cencora's payout ratio is 25.52%.

Insider Buying and Selling at Cencora

In other news, CEO Robert P. Mauch sold 4,968 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $294.11, for a total transaction of $1,461,138.48. Following the completion of the sale, the chief executive officer directly owned 42,351 shares in the company, valued at approximately $12,455,852.61. This represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $292.67, for a total value of $4,266,543.26. Following the sale, the chairman owned 309,913 shares of the company's stock, valued at approximately $90,702,237.71. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock valued at $9,993,789 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

About Cencora

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.