Mawer Investment Management Ltd. Sells 15,297 Shares of Cencora, Inc. (NYSE:COR)

Mawer Investment Management Ltd. decreased its stake in Cencora, Inc. (NYSE:COR) by 2.0% during the 3rd quarter, according to the company in 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. owned 0.37% of Cencora worth $165,106,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COR. Price T Rowe Associates Inc. MD purchased a new position in shares of Cencora during the first quarter worth approximately $2,183,619,000. Boston Partners bought a new position in Cencora during the first quarter valued at approximately $1,001,269,000. Capital Research Global Investors purchased a new position in Cencora in the first quarter worth about $650,424,000. Bessemer Group Inc. bought a new position in Cencora in the first quarter worth approximately $556,245,000. Finally, Legal & General Group Plc raised its stake in shares of Cencora by 3.7% in the second quarter. Legal & General Group Plc now owns 1,875,445 shares of the company’s stock worth $422,538,000 after buying an additional 67,287 shares during the period. 97.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on COR. Barclays increased their price target on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Leerink Partners lowered their price target on shares of Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. UBS Group upped their target price on shares of Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Bank of America restated a “neutral” rating and issued a $245.00 price objective (down from $275.00) on shares of Cencora in a research note on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $271.20.

Cencora Price Performance

NYSE COR traded up $0.01 during trading on Monday, reaching $240.25. The company’s stock had a trading volume of 12,882 shares, compared to its average volume of 1,403,769. Cencora, Inc. has a one year low of $194.56 and a one year high of $251.56. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market capitalization of $47.34 billion, a PE ratio of 31.99, a P/E/G ratio of 1.60 and a beta of 0.44. The firm has a fifty day moving average of $232.62 and a 200 day moving average of $231.03.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.55 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 0.92%. Cencora’s dividend payout ratio is 27.16%.

Insiders Place Their Bets

In other news, Chairman Steven H. Collis sold 21,509 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the sale, the chairman now owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.80% of the stock is currently owned by insiders.

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.