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

Mawer Investment Management Ltd. trimmed its holdings in shares of Cencora, Inc. (NYSE:COR) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 717,923 shares of the company’s stock after selling 15,619 shares during the period. Mawer Investment Management Ltd. owned about 0.37% of Cencora worth $161,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COR. Norges Bank bought a new stake in Cencora in the fourth quarter worth about $478,309,000. Raymond James Financial Inc. purchased a new stake in shares of Cencora during the 4th quarter worth approximately $322,460,000. Wellington Management Group LLP raised its holdings in shares of Cencora by 7.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock worth $1,168,927,000 after purchasing an additional 338,452 shares during the period. Amundi lifted its stake in Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock valued at $318,385,000 after purchasing an additional 314,846 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after purchasing an additional 308,773 shares during the period. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Cencora Stock Performance

Cencora stock opened at $275.16 on Friday. Cencora, Inc. has a 1-year low of $214.77 and a 1-year high of $275.57. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40. The firm has a market capitalization of $53.36 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 1.31 and a beta of 0.51. The firm’s 50 day simple moving average is $253.81 and its 200 day simple moving average is $241.21.

Cencora (NYSE:COR) last released its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. As a group, analysts expect that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 14th. Cencora’s payout ratio is 31.29%.

Insider Buying and Selling

In other Cencora news, CAO Lazarus Krikorian sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the sale, the chief accounting officer now owns 20,154 shares in the company, valued at $5,241,249.24. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Silvana Battaglia sold 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $242.24, for a total value of $1,211,200.00. Following the completion of the transaction, the executive vice president now 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. Over the last three months, insiders have sold 30,675 shares of company stock worth $8,034,778. Insiders own 10.80% of the company’s stock.

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.