Hazlett Burt & Watson Inc. Sells 147 Shares of Cencora, Inc. (NYSE:COR)

Hazlett Burt & Watson Inc. cut its holdings in Cencora, Inc. (NYSE:COR) by 37.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 242 shares of the company’s stock after selling 147 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Cencora were worth $54,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Cencora during the fourth quarter valued at $478,309,000. Raymond James Financial Inc. bought a new position in Cencora during the 4th quarter valued at about $322,460,000. Wellington Management Group LLP boosted its holdings in shares of Cencora by 7.0% during the 3rd quarter. Wellington Management Group LLP now owns 5,193,386 shares of the company’s stock valued at $1,168,927,000 after acquiring an additional 338,452 shares during the last quarter. Amundi grew its stake in shares of Cencora by 30.8% in the fourth quarter. Amundi now owns 1,338,710 shares of the company’s stock worth $318,385,000 after acquiring an additional 314,846 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Cencora by 40.2% during the fourth quarter. Nordea Investment Management AB now owns 1,077,272 shares of the company’s stock valued at $243,173,000 after purchasing an additional 308,773 shares during the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Cencora Stock Performance

NYSE:COR opened at $278.17 on Tuesday. The company has a market cap of $53.94 billion, a price-to-earnings ratio of 39.57, a PEG 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 $280.70. The stock’s 50 day simple moving average is $254.53 and its two-hundred day simple moving average is $241.53. The company has a debt-to-equity ratio of 16.40, a current ratio of 0.92 and a quick ratio of 0.54.

Cencora (NYSE:COR) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current fiscal year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 0.79%. Cencora’s dividend payout ratio is currently 31.29%.

Insiders Place Their Bets

In other news, CAO Lazarus Krikorian sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $260.06, for a total transaction of $520,120.00. Following the transaction, the chief accounting officer now owns 20,154 shares of the company’s stock, valued at approximately $5,241,249.24. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert P. Mauch sold 4,970 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $255.00, for a total value of $1,267,350.00. Following the completion of the sale, the chief executive officer now owns 51,070 shares of the company’s stock, valued at approximately $13,022,850. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,675 shares of company stock valued at $8,034,778 over the last ninety days. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

COR has been the topic of a number of recent research reports. StockNews.com raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho initiated coverage on shares of Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Evercore ISI lifted their price target on shares of Cencora from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on Cencora from $251.00 to $274.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Cencora has a consensus rating of “Moderate Buy” and an average target price of $280.20.

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.