Cencora, Inc. (COR) to Issue Quarterly Dividend of $0.55 on March 3rd

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders of record on Friday, February 14th will be paid 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 is Friday, February 14th.

Cencora has increased its dividend by an average of 5.3% 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 13.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

COR stock opened at $246.11 on Friday. The firm has a market capitalization of $47.57 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 1.59 and a beta of 0.49. 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 has a 52-week low of $214.77 and a 52-week high of $262.26. The firm has a 50 day moving average price of $239.08 and a 200-day moving average price of $236.51.

Cencora (NYSE:COR) last issued its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share (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%. Equities research analysts forecast that Cencora will post 15.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Cencora from $287.00 to $292.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. Barclays lifted their target price on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on shares of Cencora from $270.00 to $280.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Cencora has an average rating of “Moderate Buy” and an average target price of $277.90.

Insider Activity at Cencora

In related news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 326,557 shares of the company’s stock, valued at $79,670,111.29. The trade was a 13.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock worth $17,790,912 in the last three months. Insiders own 10.80% of the company’s stock.

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.