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

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.55 per share on Monday, March 3rd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, February 14th.

Cencora has raised its dividend by an average of 5.3% per year over the last three years and has raised its dividend every year for the last 15 years. Cencora has a payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cencora to earn $16.58 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 13.3%.

Cencora Stock Down 2.8 %

COR opened at $246.11 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The company has a market capitalization of $47.57 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49. The business has a 50-day moving average of $239.08 and a 200-day moving average of $236.51. Cencora has a fifty-two week low of $214.77 and a fifty-two week high of $262.26.

Cencora (NYSE:COR) last announced its quarterly earnings data 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 return on equity of 266.62% and a net margin of 0.51%. Equities research analysts forecast that Cencora will post 15.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $243.97, for a total transaction of $12,198,500.00. Following the sale, the chairman now owns 326,557 shares in the company, valued at approximately $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the completion of the sale, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,187 shares of company stock worth $17,790,912 over the last three months. 10.80% of the stock is owned by insiders.

Analysts Set New Price Targets

COR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Mizuho began coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 target price on the stock. UBS Group lifted their target price on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays lifted their target price on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus target price of $277.90.

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.