Coho Partners Ltd. Lowers Position in AmerisourceBergen Corp. (NYSE:ABC)

Coho Partners Ltd. decreased its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,637,532 shares of the company’s stock after selling 52,464 shares during the period. AmerisourceBergen makes up approximately 3.3% of Coho Partners Ltd.’s investment portfolio, making the stock its 17th largest position. Coho Partners Ltd. owned about 0.78% of AmerisourceBergen worth $139,616,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ABC. Boston Partners increased its holdings in shares of AmerisourceBergen by 222.4% during the 1st quarter. Boston Partners now owns 2,343,027 shares of the company’s stock worth $186,317,000 after buying an additional 1,616,201 shares during the last quarter. Marshall Wace North America L.P. increased its holdings in shares of AmerisourceBergen by 318.9% during the 1st quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock worth $72,163,000 after buying an additional 690,823 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after buying an additional 411,607 shares during the last quarter. Northern Trust Corp increased its holdings in shares of AmerisourceBergen by 14.4% during the 1st quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock worth $193,521,000 after buying an additional 306,161 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of AmerisourceBergen by 29.0% during the 1st quarter. Janus Henderson Group PLC now owns 935,861 shares of the company’s stock worth $74,420,000 after buying an additional 210,510 shares during the last quarter. Institutional investors own 66.10% of the company’s stock.

A number of analysts have recently issued reports on ABC shares. Argus cut their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Deutsche Bank began coverage on shares of AmerisourceBergen in a research report on Thursday. They set a “hold” rating and a $91.00 price objective for the company. Finally, Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen presently has a consensus rating of “Hold” and an average target price of $87.38.

In other news, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $86.29, for a total transaction of $1,207,801.13. Following the completion of the sale, the executive vice president now directly owns 65,782 shares of the company’s stock, valued at approximately $5,676,328.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 107,826 shares of AmerisourceBergen stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the sale, the chairman now directly owns 242,405 shares of the company’s stock, valued at $20,890,462.90. The disclosure for this sale can be found here. Insiders sold a total of 186,215 shares of company stock valued at $16,240,235 in the last three months. 27.80% of the stock is currently owned by corporate insiders.

ABC stock traded up $0.28 during midday trading on Friday, hitting $84.92. The company’s stock had a trading volume of 4,058 shares, compared to its average volume of 1,158,319. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a 52-week low of $69.36 and a 52-week high of $94.85. The firm has a market capitalization of $18.05 billion, a P/E ratio of 13.07, a PEG ratio of 1.54 and a beta of 1.00. The firm has a 50-day simple moving average of $86.21 and a 200-day simple moving average of $82.00.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter last year, the company posted $1.54 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.60 annualized dividend and a yield of 1.88%. AmerisourceBergen’s dividend payout ratio is presently 24.65%.

AmerisourceBergen Profile

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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