Beutel Goodman & Co Ltd. Has $113.76 Million Stake in Cencora, Inc. (NYSE:COR)

Beutel Goodman & Co Ltd. grew its stake in Cencora, Inc. (NYSE:COR) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 506,305 shares of the company’s stock after buying an additional 36,032 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Cencora were worth $113,756,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COR. Whittier Trust Co. raised its stake in shares of Cencora by 0.6% in the 4th quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock valued at $1,765,000 after acquiring an additional 44 shares in the last quarter. Shepherd Financial Partners LLC grew its holdings in Cencora by 0.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 5,441 shares of the company’s stock valued at $1,223,000 after purchasing an additional 46 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Cencora by 37.7% in the fourth quarter. WASHINGTON TRUST Co now owns 168 shares of the company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Cencora by 63.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 119 shares of the company’s stock worth $27,000 after buying an additional 46 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Cencora by 1.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after buying an additional 47 shares during the last quarter. Institutional investors own 97.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on COR. StockNews.com upgraded shares of Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho assumed coverage on Cencora in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company raised 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. Finally, Evercore ISI upped their price target on Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $280.20.

Cencora Stock Performance

COR opened at $275.16 on Friday. The stock has a market cap of $53.36 billion, a PE ratio of 39.14, a P/E/G ratio of 1.31 and a beta of 0.51. Cencora, Inc. has a 1 year low of $214.77 and a 1 year high of $275.57. The stock’s 50 day simple moving average is $253.81 and its 200-day simple moving average is $241.18. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 16.40.

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

Cencora Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, February 14th. Cencora’s dividend payout ratio is 31.29%.

Insider Buying and Selling at Cencora

In related news, EVP Silvana Battaglia sold 5,000 shares of Cencora stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $242.24, for a total transaction of $1,211,200.00. Following the completion of the transaction, the executive vice president now directly owns 15,374 shares of the company’s stock, valued at $3,724,197.76. This trade represents a 24.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Steven H. Collis sold 14,578 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the sale, the chairman now directly owns 317,913 shares in the company, valued at $85,680,732.63. This represents a 4.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,675 shares of company stock valued at $8,034,778. 10.80% of the stock is currently owned by corporate insiders.

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.