Beutel Goodman & Co Ltd. Grows Stock Position in Cencora, Inc. (NYSE:COR)

Beutel Goodman & Co Ltd. raised its position in Cencora, Inc. (NYSE:COR - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 506,305 shares of the company's stock after purchasing an additional 36,032 shares during the period. Beutel Goodman & Co Ltd. owned 0.26% of Cencora worth $113,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of COR. United Bank raised its stake in Cencora by 4.2% in the third quarter. United Bank now owns 5,601 shares of the company's stock valued at $1,261,000 after buying an additional 225 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Cencora during the 3rd quarter worth about $1,212,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Cencora by 3.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,767 shares of the company's stock worth $20,430,000 after purchasing an additional 2,711 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cencora by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,552,213 shares of the company's stock valued at $349,372,000 after purchasing an additional 18,782 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Cencora by 53.2% in the third quarter. Public Sector Pension Investment Board now owns 6,908 shares of the company's stock valued at $1,555,000 after purchasing an additional 2,400 shares during the last quarter. 97.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 14,578 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the transaction, the chairman now owns 317,913 shares of the company's stock, valued at $85,680,732.63. This represents a 4.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth S. Campbell sold 4,127 shares of Cencora stock in a transaction on Monday, March 24th. The shares were sold at an average price of $268.28, for a total transaction of $1,107,191.56. Following the completion of the transaction, the executive vice president now owns 14,665 shares in the company, valued at approximately $3,934,326.20. This trade represents a 21.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,675 shares of company stock worth $8,034,778. Corporate insiders own 10.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Mizuho began coverage on shares of Cencora in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $280.00 target price on the stock. Wells Fargo & Company boosted their target price on Cencora from $251.00 to $274.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Evercore ISI raised their price target on Cencora from $270.00 to $280.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com upgraded shares of Cencora from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. upped 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. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $280.20.

Cencora Price Performance

NYSE COR traded up $1.26 during trading hours on Wednesday, reaching $278.67. The company's stock had a trading volume of 493,436 shares, compared to its average volume of 1,441,722. Cencora, Inc. has a fifty-two week low of $214.77 and a fifty-two week high of $280.70. The stock has a market cap of $54.04 billion, a PE ratio of 39.64, a PEG ratio of 1.31 and a beta of 0.51. The company has a debt-to-equity ratio of 16.40, a quick ratio of 0.54 and a current ratio of 0.92. The company's 50-day moving average is $255.18 and its two-hundred day moving average is $241.79.

Cencora (NYSE:COR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $3.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Analysts forecast that Cencora, Inc. will post 15.37 EPS for the current year.

Cencora Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cencora's payout ratio is 31.29%.

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.