Cencora, Inc. (NYSE:COR) Announces Quarterly Dividend of $0.51

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.51 per share on Friday, May 24th. This represents a $2.04 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Thursday, May 9th.

Cencora has increased its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 1 years. Cencora has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cencora to earn $14.64 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 13.9%.

Cencora Price Performance

Shares of COR opened at $224.00 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 3.41. Cencora has a 1 year low of $163.37 and a 1 year high of $246.75. The stock has a market cap of $44.68 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. The stock’s 50-day moving average price is $238.31 and its two-hundred day moving average price is $218.93.

Cencora (NYSE:COR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $3.80 earnings per share for the quarter, beating the consensus estimate of $3.65 by $0.15. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The business had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business posted $3.50 EPS. Cencora’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts predict that Cencora will post 13.44 earnings per share for the current year.

Insider Activity at Cencora

In other Cencora news, EVP Elizabeth S. Campbell sold 6,977 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the sale, the executive vice president now directly owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total value of $2,553,859.92. Following the completion of the transaction, the chief executive officer now directly owns 285,088 shares in the company, valued at $67,702,698.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elizabeth S. Campbell sold 6,977 shares of Cencora stock in a transaction on Monday, March 18th. The shares were sold at an average price of $238.12, for a total value of $1,661,363.24. Following the completion of the transaction, the executive vice president now owns 8,246 shares of the company’s stock, valued at $1,963,537.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup boosted their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday. Leerink Partnrs restated an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Mizuho boosted their price target on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a research note on Monday, February 5th. Finally, SVB Leerink assumed coverage on Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Cencora presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.90.

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.