Hazlett Burt & Watson Inc. Lowers Position in Cencora, Inc. $COR

Hazlett Burt & Watson Inc. trimmed its stake in Cencora, Inc. (NYSE:COR) by 24.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205 shares of the company’s stock after selling 67 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Cencora were worth $61,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Obermeyer Wealth Partners grew its holdings in Cencora by 1.3% in the first quarter. Obermeyer Wealth Partners now owns 2,724 shares of the company’s stock valued at $758,000 after purchasing an additional 36 shares during the period. Grove Bank & Trust grew its holdings in Cencora by 4.3% in the second quarter. Grove Bank & Trust now owns 879 shares of the company’s stock valued at $264,000 after purchasing an additional 36 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in Cencora by 0.4% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,547 shares of the company’s stock valued at $2,563,000 after buying an additional 38 shares in the last quarter. Monument Capital Management lifted its position in Cencora by 2.4% during the second quarter. Monument Capital Management now owns 1,637 shares of the company’s stock valued at $491,000 after buying an additional 38 shares in the last quarter. Finally, Cromwell Holdings LLC lifted its position in Cencora by 9.5% during the first quarter. Cromwell Holdings LLC now owns 450 shares of the company’s stock valued at $125,000 after buying an additional 39 shares in the last quarter. 97.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COR shares. Wells Fargo & Company lifted their price target on shares of Cencora from $337.00 to $354.00 and gave the company an “overweight” rating in a research report on Wednesday, August 13th. Evercore ISI set a $340.00 price target on shares of Cencora in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Cencora from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group lifted their price target on shares of Cencora from $275.00 to $300.00 and gave the company a “hold” rating in a research report on Monday, June 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cencora in a research report on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $320.00.

Insiders Place Their Bets

In other Cencora news, CEO Robert P. Mauch sold 5,097 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $290.00, for a total transaction of $1,478,130.00. Following the sale, the chief executive officer directly owned 39,274 shares of the company’s stock, valued at approximately $11,389,460. This represents a 11.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven H. Collis sold 31,350 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $289.86, for a total transaction of $9,087,111.00. Following the sale, the chairman directly owned 305,913 shares in the company, valued at $88,671,942.18. This trade represents a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,993 shares of company stock worth $16,292,923 over the last three months. 10.80% of the stock is owned by corporate insiders.

Cencora Trading Down 0.2%

COR opened at $317.24 on Tuesday. The stock has a market capitalization of $61.51 billion, a PE ratio of 32.64, a P/E/G ratio of 1.49 and a beta of 0.63. The firm’s fifty day moving average price is $297.46 and its 200 day moving average price is $292.16. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.90 and a quick ratio of 0.53. Cencora, Inc. has a 12-month low of $221.95 and a 12-month high of $319.87.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $4.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.21. Cencora had a net margin of 0.60% and a return on equity of 267.36%. The firm had revenue of $80.66 billion for the quarter, compared to analysts’ expectations of $80.34 billion. During the same period in the prior year, the company posted $3.34 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, research analysts expect that Cencora, Inc. will post 15.37 EPS for the current fiscal year.

Cencora Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 15th. Cencora’s dividend payout ratio is 22.63%.

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.