113,237 Cencora, Inc. $COR Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. reduced its position in shares of Cencora, Inc. (NYSE:COR) by 7.6% in the third quarter, Holdings Channel reports. The firm owned 1,375,606 shares of the company’s stock after selling 113,237 shares during the quarter. Cencora accounts for 3.0% of Mawer Investment Management Ltd.’s holdings, making the stock its 8th biggest holding. Mawer Investment Management Ltd.’s holdings in Cencora were worth $413,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COR. BlackRock Inc. purchased a new position in Cencora in the second quarter worth about $5,154,136,000. Bank of America Corp DE grew its holdings in shares of Cencora by 6.9% during the first quarter. Bank of America Corp DE now owns 4,138,388 shares of the company’s stock valued at $1,300,033,000 after buying an additional 267,318 shares during the last quarter. Amundi grew its holdings in shares of Cencora by 43.5% during the second quarter. Amundi now owns 2,229,326 shares of the company’s stock valued at $630,855,000 after buying an additional 676,066 shares during the last quarter. Carmignac Gestion grew its holdings in shares of Cencora by 58.7% during the second quarter. Carmignac Gestion now owns 1,747,363 shares of the company’s stock valued at $494,463,000 after buying an additional 646,112 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cencora during the second quarter valued at approximately $483,772,000. 97.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $324.12, for a total value of $3,662,556.00. Following the transaction, the executive vice president directly owned 19,455 shares in the company, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Cencora Stock Performance

Shares of NYSE COR traded up $9.74 during midday trading on Friday, hitting $359.12. 1,393,211 shares of the company’s stock traded hands, compared to its average volume of 1,421,795. The firm has a fifty day moving average of $327.12 and a 200 day moving average of $317.20. Cencora, Inc. has a 1 year low of $244.82 and a 1 year high of $377.54. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.59 and a current ratio of 0.94. The stock has a market capitalization of $68.53 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.81 and a beta of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.08. The company had revenue of $88.35 billion for the quarter, compared to the consensus estimate of $87.95 billion. Cencora had a net margin of 1.03% and a return on equity of 110.72%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.84 earnings per share. On average, analysts forecast that Cencora, Inc. will post 19.58 earnings per share for the current year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.66 per share. This is an increase from Cencora’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th. Cencora’s dividend payout ratio is currently 13.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on COR shares. Weiss Ratings upgraded shares of Cencora from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. upped their price objective on Cencora from $390.00 to $413.00 and gave the company an “overweight” rating in a research report on Tuesday, November 10th. Robert W. Baird increased their target price on Cencora from $373.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Morgan Stanley increased their target price on Cencora from $346.00 to $377.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Finally, Argus lifted their target price on Cencora from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Cencora currently has an average rating of “Moderate Buy” and an average price target of $368.14.

Cencora 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.