Mawer Investment Management Ltd. Sells 15,619 Shares of Cencora, Inc. (NYSE:COR)

Mawer Investment Management Ltd. lessened its stake in Cencora, Inc. (NYSE:COR) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 717,923 shares of the company’s stock after selling 15,619 shares during the period. Mawer Investment Management Ltd.’s holdings in Cencora were worth $161,303,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of COR. United Bank increased its stake in shares of Cencora by 4.2% in the third quarter. United Bank now owns 5,601 shares of the company’s stock worth $1,261,000 after buying an additional 225 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Cencora in the third quarter valued at about $1,212,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cencora by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,767 shares of the company’s stock valued at $20,430,000 after acquiring an additional 2,711 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Cencora by 53.2% during the third quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company’s stock worth $1,555,000 after purchasing an additional 2,400 shares during the period. Finally, Financial Counselors Inc. boosted its holdings in shares of Cencora by 20.2% during the third quarter. Financial Counselors Inc. now owns 1,284 shares of the company’s stock worth $289,000 after purchasing an additional 216 shares during the period. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now owns 317,913 shares of the company’s stock, valued at $85,680,732.63. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Silvana Battaglia sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock valued at $8,034,778 over the last ninety days. Insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on COR. JPMorgan Chase & Co. upped their price target on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Evercore ISI upped their target price on Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho started coverage on shares of Cencora in a research report on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company raised their target price on shares of Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.20.

Cencora Stock Up 0.4 %

NYSE:COR opened at $275.16 on Friday. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The firm has a market cap of $53.36 billion, a P/E ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $275.57. The firm has a 50-day simple moving average of $253.81 and a two-hundred day simple moving average of $241.21.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.46% and a return on equity of 328.62%. Analysts predict that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s payout ratio is currently 31.29%.

Cencora 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.