Smead Capital Management Inc. Decreases Position in AmerisourceBergen Corp. (ABC)

Smead Capital Management Inc. lowered its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 397,248 shares of the company’s stock after selling 4,121 shares during the quarter. AmerisourceBergen accounts for approximately 1.6% of Smead Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Smead Capital Management Inc.’s holdings in AmerisourceBergen were worth $31,589,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. HL Financial Services LLC boosted its position in shares of AmerisourceBergen by 6.3% in the 1st quarter. HL Financial Services LLC now owns 5,561 shares of the company’s stock valued at $442,000 after purchasing an additional 328 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in shares of AmerisourceBergen by 48.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,877 shares of the company’s stock valued at $140,000 after purchasing an additional 612 shares during the period. Truvestments Capital LLC acquired a new position in shares of AmerisourceBergen in the 1st quarter valued at $96,000. Nalls Sherbakoff Group LLC acquired a new position in shares of AmerisourceBergen in the 4th quarter valued at $74,000. Finally, Edmp Inc. boosted its position in shares of AmerisourceBergen by 1.3% in the 1st quarter. Edmp Inc. now owns 12,857 shares of the company’s stock valued at $1,022,000 after purchasing an additional 165 shares during the period. 65.71% of the stock is owned by institutional investors and hedge funds.

In other AmerisourceBergen news, CEO Steven H. Collis sold 21,344 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $83.62, for a total transaction of $1,784,785.28. Following the completion of the sale, the chief executive officer now directly owns 155,923 shares in the company, valued at approximately $13,038,281.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dale Danilewitz sold 543 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $86.30, for a total value of $46,860.90. Following the sale, the executive vice president now owns 2,714 shares of the company’s stock, valued at $234,218.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,018 shares of company stock valued at $156,471 and have sold 46,129 shares valued at $3,723,512. Company insiders own 27.80% of the company’s stock.



A number of research firms recently weighed in on ABC. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 14th. Guggenheim began coverage on AmerisourceBergen in a research report on Thursday, April 11th. They issued a “buy” rating for the company. Bank of America lowered AmerisourceBergen from a “buy” rating to an “underperform” rating and decreased their price target for the company from $95.00 to $76.00 in a research report on Wednesday, April 10th. Finally, Wolfe Research began coverage on AmerisourceBergen in a research report on Tuesday, April 2nd. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $86.38.

NYSE ABC traded up $0.24 during trading on Friday, reaching $80.68. 809,272 shares of the company’s stock were exchanged, compared to its average volume of 1,482,771. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.88. The firm has a market capitalization of $16.96 billion, a PE ratio of 12.43, a PEG ratio of 1.57 and a beta of 1.07. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.43.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. The firm had revenue of $43.32 billion during the quarter, compared to analyst estimates of $43.44 billion. During the same period last year, the company posted $1.94 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that AmerisourceBergen Corp. will post 6.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. AmerisourceBergen’s payout ratio is presently 24.65%.

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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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