Cencora, Inc. (NYSE:COR) Declares Quarterly Dividend of $0.55

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Friday, November 15th will be paid a dividend of 0.55 per share on Friday, November 29th. This represents a $2.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, November 15th. This is an increase from Cencora’s previous quarterly dividend of $0.51.

Cencora has increased its dividend by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Cencora has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cencora to earn $16.29 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 13.5%.

Cencora Price Performance

COR traded down $2.65 on Thursday, reaching $247.32. The company had a trading volume of 147,952 shares, compared to its average volume of 1,402,113. Cencora has a 52-week low of $191.11 and a 52-week high of $251.56. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88. The business has a 50 day simple moving average of $232.38 and a 200 day simple moving average of $231.00. The company has a market cap of $48.73 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 1.66 and a beta of 0.44.

Insider Buying and Selling at Cencora

In other news, Chairman Steven H. Collis sold 21,509 shares of Cencora stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total value of $5,071,822.20. Following the completion of the transaction, the chairman now owns 285,088 shares of the company’s stock, valued at $67,223,750.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America reiterated a “neutral” rating and set a $245.00 price target (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. UBS Group lifted their price target on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price target on shares of Cencora from $236.00 to $249.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a report on Friday, September 20th. Finally, Robert W. Baird lifted their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $271.20.

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.