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. Shareholders 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 annualized dividend and a dividend yield of 0.87%.

Cencora has increased its dividend payment by an average of 5.3% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Cencora has a payout ratio of 13.2% meaning 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 Trading Up 0.8 %

COR stock opened at $253.53 on Thursday. The company has a market capitalization of $49.00 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.59 and a beta of 0.49. Cencora has a one year low of $214.77 and a one year high of $262.26. The company’s 50 day moving average price is $239.08 and its two-hundred day moving average price is $236.51. The company has a debt-to-equity ratio of 4.84, a quick ratio of 0.53 and a current ratio of 0.88.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. Cencora had a net margin of 0.51% and a return on equity of 266.62%. As a group, analysts predict that Cencora will post 15.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Steven H. Collis sold 21,509 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $242.16, for a total transaction of $5,208,619.44. Following the sale, the chairman now owns 306,752 shares in the company, valued at approximately $74,283,064.32. The trade was a 6.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Silvana Battaglia sold 1,678 shares of Cencora stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $228.72, for a total value of $383,792.16. Following the completion of the transaction, the executive vice president now directly owns 20,329 shares of the company’s stock, valued at approximately $4,649,648.88. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,187 shares of company stock worth $17,790,912. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on COR shares. Robert W. Baird raised their target price on shares of Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays raised their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Cencora from $289.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company raised their target price on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Finally, Evercore ISI raised their target price on shares of Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.40.

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.