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

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Investors 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 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, February 14th.

Cencora has increased its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 15 years. Cencora has a dividend payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cencora to earn $16.72 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 13.2%.

Cencora Stock Up 0.2 %

Shares of Cencora stock opened at $246.86 on Wednesday. Cencora has a 12-month low of $214.77 and a 12-month high of $262.26. The stock has a market capitalization of $47.71 billion, a P/E ratio of 35.11, a PEG ratio of 1.49 and a beta of 0.49. The stock has a 50 day moving average price of $238.86 and a two-hundred day moving average price of $237.03. The company has a quick ratio of 0.53, a current ratio of 0.92 and a debt-to-equity ratio of 16.40.

Cencora (NYSE:COR) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, topping analysts’ consensus estimates of $3.50 by $0.23. Cencora had a return on equity of 328.62% and a net margin of 0.46%. Equities analysts expect that Cencora will post 15.36 earnings per share for the current year.

Insider Transactions at Cencora

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $243.97, for a total value of $12,198,500.00. Following the completion of the transaction, the chairman now directly owns 326,557 shares in the company, valued at $79,670,111.29. This trade represents a 13.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Silvana Battaglia sold 1,678 shares of the firm’s stock in a transaction that occurred on 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. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,187 shares of company stock valued at $17,790,912 over the last 90 days. 10.80% of the stock is owned by company insiders.

Analyst Ratings Changes

COR has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 29th. UBS Group increased their price objective on Cencora from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho initiated coverage on Cencora in a research note on Wednesday, December 4th. They set an “outperform” rating and a $280.00 price objective for the company. JPMorgan Chase & Co. increased 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. Finally, Barclays increased their price objective on Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.90.

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.