Hazlett Burt & Watson Inc. Decreases Holdings in Cencora, Inc. (NYSE:COR)

Hazlett Burt & Watson Inc. trimmed its position in shares of Cencora, Inc. (NYSE:COR) by 16.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234 shares of the company’s stock after selling 45 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Cencora were worth $53,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in Cencora during the 4th quarter worth approximately $4,212,508,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Cencora in the 1st quarter worth approximately $2,183,619,000. JPMorgan Chase & Co. bought a new stake in shares of Cencora in the 1st quarter worth approximately $1,199,695,000. Boston Partners bought a new stake in shares of Cencora in the 1st quarter worth approximately $1,001,269,000. Finally, Capital Research Global Investors bought a new stake in shares of Cencora in the 1st quarter worth approximately $650,424,000. 97.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on COR shares. JPMorgan Chase & Co. lifted their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners restated an “outperform” rating and set a $275.00 price target on shares of Cencora in a research report on Thursday, June 27th. Wells Fargo & Company lifted their price target on Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird dropped their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Finally, StockNews.com upgraded Cencora from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $258.13.

Cencora Stock Down 0.6 %

Shares of NYSE:COR opened at $236.22 on Thursday. The stock has a fifty day simple moving average of $233.00 and a two-hundred day simple moving average of $233.22. The stock has a market capitalization of $47.11 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.54 and a beta of 0.44. Cencora, Inc. has a 12-month low of $172.41 and a 12-month high of $247.66. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.16. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The firm had revenue of $74.20 billion during the quarter, compared to analysts’ expectations of $73.32 billion. During the same quarter in the previous year, the business earned $2.92 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Cencora, Inc. will post 13.61 earnings per share for the current fiscal year.

Cencora Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Cencora’s dividend payout ratio is currently 22.32%.

Insider Transactions at Cencora

In other news, EVP Silvana Battaglia sold 1,473 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $242.69, for a total value of $357,482.37. Following the completion of the transaction, the executive vice president now owns 10,948 shares in the company, valued at $2,656,970.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Steven H. Collis sold 10,755 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $222.12, for a total transaction of $2,388,900.60. Following the completion of the sale, the chief executive officer now owns 285,088 shares in the company, valued at $63,323,746.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $242.69, for a total value of $357,482.37. Following the sale, the executive vice president now owns 10,948 shares of the company’s stock, valued at approximately $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock worth $1,070,392,799 over the last quarter. 15.80% of the stock is currently owned by insiders.

Cencora Company Profile

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.