Mawer Investment Management Ltd. Cuts Holdings in Cencora, Inc. (NYSE:COR)

Mawer Investment Management Ltd. cut its stake in shares of Cencora, Inc. (NYSE:COR) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 733,542 shares of the company’s stock after selling 15,297 shares during the period. Mawer Investment Management Ltd.’s holdings in Cencora were worth $165,106,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lake Street Advisors Group LLC increased its holdings in shares of Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock worth $769,000 after buying an additional 43 shares during the last quarter. Financial Advocates Investment Management grew its stake in Cencora by 4.7% during the 2nd quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock worth $220,000 after buying an additional 44 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Cencora by 1.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 4,447 shares of the company’s stock worth $1,001,000 after purchasing an additional 46 shares during the period. Prime Capital Investment Advisors LLC raised its stake in Cencora by 1.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,768 shares of the company’s stock valued at $848,000 after acquiring an additional 46 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its position in Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after buying an additional 48 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the transaction, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.80% of the stock is owned by insiders.

Analysts Set New Price Targets

COR has been the subject of several recent analyst reports. Leerink Partners reduced their price objective on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. UBS Group upped their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird increased their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Bank of America reissued a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Evercore ISI raised their price objective on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.20.

Cencora Stock Performance

Shares of NYSE:COR traded up $0.01 during trading on Monday, hitting $240.25. 12,882 shares of the stock were exchanged, compared to its average volume of 1,403,769. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44. Cencora, Inc. has a 1-year low of $194.56 and a 1-year high of $251.56. The company’s fifty day simple moving average is $232.62 and its 200-day simple moving average is $231.03. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51. Cencora’s payout ratio is currently 27.16%.

Cencora Company 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.