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

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 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 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 $16.58 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 Performance

COR opened at $253.53 on Thursday. The company’s fifty day moving average price is $239.08 and its two-hundred day moving average price is $236.51. The company has a market cap of $49.00 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 1.59 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.53 and a debt-to-equity ratio of 4.84. Cencora has a 1-year low of $214.77 and a 1-year high of $262.26.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 EPS for the quarter, beating 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%. On average, analysts expect that Cencora will post 15.32 EPS for the current fiscal year.

Analysts Set New Price Targets

COR has been the subject of several analyst reports. UBS Group increased their target price 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 increased their target price on shares of Cencora from $237.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their target price on shares of Cencora from $289.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Robert W. Baird increased their price target on shares of Cencora from $287.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays increased their price target on shares of Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $278.40.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 50,000 shares of the 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 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 sale 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 stock in a transaction dated 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 in the company, valued at approximately $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,187 shares of company stock worth $17,790,912 over the last quarter. 10.80% of the stock is currently owned by company insiders.

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.