Cencora, Inc. $COR Stock: Beutel Goodman & Co Ltd. Grows Stake

Beutel Goodman & Co Ltd. grew its stake in shares of Cencora, Inc. (NYSE:COR) by 29.1% in the third quarter, Holdings Channel reports. The firm owned 658,222 shares of the company’s stock after acquiring an additional 148,544 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Cencora were worth $197,631,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Pinnacle Associates Ltd. grew its holdings in shares of Cencora by 1.8% in the third quarter. Pinnacle Associates Ltd. now owns 2,203 shares of the company’s stock worth $662,000 after purchasing an additional 38 shares during the last quarter. Elmwood Wealth Management Inc. increased its stake in Cencora by 0.9% in the 2nd quarter. Elmwood Wealth Management Inc. now owns 4,314 shares of the company’s stock worth $1,221,000 after buying an additional 40 shares during the period. Signature Equity Partners LLC lifted its holdings in Cencora by 4.6% during the 1st quarter. Signature Equity Partners LLC now owns 937 shares of the company’s stock valued at $294,000 after buying an additional 41 shares in the last quarter. Mosley Wealth Management lifted its holdings in Cencora by 11.5% during the 3rd quarter. Mosley Wealth Management now owns 407 shares of the company’s stock valued at $122,000 after buying an additional 42 shares in the last quarter. Finally, Weaver Consulting Group lifted its holdings in Cencora by 2.5% during the 3rd quarter. Weaver Consulting Group now owns 1,798 shares of the company’s stock valued at $540,000 after buying an additional 44 shares in the last quarter. 97.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cencora

In other Cencora news, EVP Elizabeth Campbell sold 11,300 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $324.12, for a total transaction of $3,662,556.00. Following the transaction, the executive vice president owned 19,455 shares of the company’s stock, valued at approximately $6,305,754.60. This trade represents a 36.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on COR. Evercore reissued an “outperform” rating and issued a $350.00 price objective (up from $330.00) on shares of Cencora in a research report on Thursday, August 6th. Wall Street Zen raised shares of Cencora from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. UBS Group reduced their target price on shares of Cencora from $430.00 to $400.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Wells Fargo & Company lifted their price target on shares of Cencora from $331.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $382.00 to $390.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.50.

Cencora Price Performance

COR opened at $346.16 on Tuesday. Cencora, Inc. has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.01. The business’s fifty day simple moving average is $325.56 and its 200-day simple moving average is $317.25. The company has a market capitalization of $66.06 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.84 and a beta of 0.58.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.66 EPS for the quarter, beating the consensus estimate of $4.58 by $0.08. The firm had revenue of $88.35 billion for the quarter, compared to analyst estimates of $87.95 billion. Cencora had a return on equity of 110.72% and a net margin of 1.03%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.84 earnings per share. On average, equities research analysts anticipate that Cencora, Inc. will post 19.58 earnings per share for the current fiscal year.

Cencora Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 13th. This is a positive change from Cencora’s previous quarterly dividend of $0.60. Cencora’s dividend payout ratio (DPR) is currently 13.39%.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical services company that connects pharmaceutical manufacturers with healthcare providers. Its core business includes sourcing and distributing medicines and other healthcare products to pharmacies, hospitals, health systems and other care providers.

The company also provides services supporting specialty pharmaceuticals, including logistics, consulting and solutions for manufacturers and healthcare organizations. These services help manage the handling and delivery of complex medicines and support access to treatments.

Cencora serves customers in the United States and internationally.