Hazlett Burt & Watson Inc. Trims Position in Cencora, Inc. (NYSE:COR)

Hazlett Burt & Watson Inc. lessened its position in shares of Cencora, Inc. (NYSE:COR) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 234 shares of the company’s stock after selling 45 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Cencora were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Financial Advocates Investment Management grew its holdings in Cencora by 4.7% during the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after purchasing an additional 44 shares during the period. Checchi Capital Advisers LLC grew its holdings in Cencora by 2.2% during the second quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock valued at $499,000 after purchasing an additional 48 shares during the period. Valeo Financial Advisors LLC grew its holdings in Cencora by 3.4% during the second quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares during the period. Barlow Wealth Partners Inc. grew its holdings in Cencora by 5.4% during the second quarter. Barlow Wealth Partners Inc. now owns 1,339 shares of the company’s stock valued at $303,000 after purchasing an additional 68 shares during the period. Finally, Tevis Investment Management grew its holdings in Cencora by 4.9% during the second quarter. Tevis Investment Management now owns 1,476 shares of the company’s stock valued at $333,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Insider Activity

In other news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total value of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,438,171 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $240.56, for a total transaction of $1,067,646,415.76. Following the completion of the sale, the insider now directly owns 19,980,000 shares of the company’s stock, valued at approximately $4,806,388,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Silvana Battaglia sold 1,473 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 10,948 shares of the company’s stock, valued at $2,656,970.12. The disclosure for this sale can be found here. Insiders sold 4,450,399 shares of company stock valued at $1,070,392,799 in the last ninety days. Insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COR. StockNews.com raised Cencora from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird cut their price target on Cencora from $287.00 to $283.00 and set an “outperform” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on Cencora from $280.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cencora in a research note on Thursday, June 27th. Finally, Wells Fargo & Company upped their price objective on Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.13.

Cencora Price Performance

NYSE:COR opened at $236.22 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.55 and a debt-to-equity ratio of 3.93. The company has a market capitalization of $47.11 billion, a P/E ratio of 25.84, a P/E/G 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 business’s 50-day moving average is $233.00 and its 200 day moving average is $233.22.

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

Cencora Announces Dividend

The business also recently disclosed 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 payout ratio is 22.32%.

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.