Ceredex Value Advisors LLC Takes Position in AmerisourceBergen (ABC)

Ceredex Value Advisors LLC bought a new position in shares of AmerisourceBergen (NYSE:ABC) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 935,000 shares of the company’s stock, valued at approximately $80,607,000. AmerisourceBergen accounts for approximately 1.0% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Vulcan Value Partners LLC increased its stake in AmerisourceBergen by 29.4% during the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after acquiring an additional 1,710,816 shares during the period. Millennium Management LLC increased its stake in AmerisourceBergen by 429.2% during the 4th quarter. Millennium Management LLC now owns 1,507,690 shares of the company’s stock worth $138,436,000 after acquiring an additional 1,222,806 shares during the period. BlackRock Inc. increased its stake in AmerisourceBergen by 5.8% during the 4th quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock worth $1,137,171,000 after acquiring an additional 679,417 shares during the period. Bank of New York Mellon Corp increased its stake in AmerisourceBergen by 23.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,864,488 shares of the company’s stock worth $263,016,000 after acquiring an additional 550,215 shares during the period. Finally, Coho Partners Ltd. increased its stake in AmerisourceBergen by 43.5% during the 1st quarter. Coho Partners Ltd. now owns 1,618,391 shares of the company’s stock worth $139,522,000 after acquiring an additional 490,607 shares during the period. Institutional investors own 66.86% of the company’s stock.

AmerisourceBergen opened at $87.07 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.48 and a current ratio of 0.94. AmerisourceBergen has a twelve month low of $85.52 and a twelve month high of $86.72. The firm has a market cap of $18.83 billion, a P/E ratio of 14.81, a PEG ratio of 1.30 and a beta of 1.04.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Wednesday, May 2nd. The company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.13. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The company had revenue of $41.03 billion for the quarter, compared to the consensus estimate of $40.56 billion. During the same quarter last year, the business posted $1.77 EPS. AmerisourceBergen’s revenue for the quarter was up 10.5% on a year-over-year basis. analysts forecast that AmerisourceBergen will post 6.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Investors of record on Monday, May 21st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, May 18th. AmerisourceBergen’s dividend payout ratio (DPR) is 25.85%.

In related news, insider Robert P. Mauch sold 1,000 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.94, for a total transaction of $97,940.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $94.25, for a total value of $2,012,237.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,092 shares of company stock worth $10,136,544. 27.30% of the stock is currently owned by company insiders.

A number of equities analysts have commented on the company. Jefferies Group set a $95.00 price objective on AmerisourceBergen and gave the stock a “hold” rating in a research note on Wednesday, February 7th. TheStreet upgraded AmerisourceBergen from a “c” rating to a “b” rating in a research note on Tuesday, February 6th. Royal Bank of Canada set a $101.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research note on Monday, April 2nd. Mizuho set a $100.00 price target on AmerisourceBergen and gave the company a “hold” rating in a research note on Wednesday, January 24th. Finally, Needham & Company LLC lifted their price target on AmerisourceBergen from $88.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $103.07.

AmerisourceBergen Company 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.

Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen (NYSE:ABC).

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply