Mawer Investment Management Ltd. Reduces Position in Cencora, Inc. (NYSE:COR)

Mawer Investment Management Ltd. lowered its holdings in Cencora, Inc. (NYSE:COR) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 748,839 shares of the company’s stock after selling 38,474 shares during the period. Cencora accounts for 0.8% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 28th biggest position. Mawer Investment Management Ltd. owned about 0.38% of Cencora worth $168,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in COR. Kingswood Wealth Advisors LLC acquired a new position in shares of Cencora during the second quarter worth about $655,000. TD Asset Management Inc purchased a new stake in shares of Cencora during the first quarter worth about $95,313,000. LSV Asset Management purchased a new stake in shares of Cencora during the first quarter worth about $3,579,000. Cairn Investment Group Inc. purchased a new stake in shares of Cencora during the first quarter worth about $2,294,000. Finally, Lake Street Advisors Group LLC bought a new stake in Cencora in the first quarter valued at about $836,000. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Analyst Upgrades and Downgrades

COR has been the subject of several recent research reports. Wells Fargo & Company upped their target price on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird cut their target price on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cencora in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $258.13.

Insider Activity at Cencora

In other Cencora news, CEO Steven H. Collis sold 10,755 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now owns 285,088 shares in the company, valued at approximately $63,323,746.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total transaction of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Collis sold 10,755 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the transaction, the chief executive officer now directly owns 285,088 shares of the company’s stock, valued at approximately $63,323,746.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,450,399 shares of company stock worth $1,070,392,799. Insiders own 15.80% of the company’s stock.

Cencora Price Performance

Shares of COR stock opened at $236.53 on Tuesday. Cencora, Inc. has a 52-week low of $172.41 and a 52-week high of $247.66. The stock has a market cap of $46.61 billion, a PE ratio of 25.88, a PEG ratio of 1.54 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a quick ratio of 0.55 and a current ratio of 0.89. The firm’s 50 day moving average price is $232.44 and its two-hundred day moving average price is $233.20.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.16. The company had revenue of $74.20 billion during the quarter, compared to analyst estimates of $73.32 billion. Cencora had a net margin of 0.65% and a return on equity of 266.60%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.92 EPS. As a group, analysts forecast that Cencora, Inc. will post 13.61 EPS for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 0.86%. Cencora’s dividend payout ratio (DPR) is currently 22.32%.

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.