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

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, May 10th will be given a dividend of 0.51 per share on Friday, May 24th. This represents a $2.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 9th.

Cencora has raised 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. Equities analysts expect Cencora to earn $14.69 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

NYSE:COR traded down $0.65 during trading hours on Wednesday, reaching $226.09. The company had a trading volume of 128,383 shares, compared to its average volume of 1,296,358. The firm has a market capitalization of $45.10 billion, a PE ratio of 24.81, a PEG ratio of 1.61 and a beta of 0.47. The stock has a 50-day moving average of $237.82 and a two-hundred day moving average of $219.87. Cencora has a one year low of $163.37 and a one year high of $246.75. The company has a quick ratio of 0.53, a current ratio of 0.89 and a debt-to-equity ratio of 3.41.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, May 1st. The company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.65 by $0.15. The business had revenue of $68.41 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a net margin of 0.67% and a return on equity of 268.67%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $3.50 EPS. Analysts forecast that Cencora will post 13.44 earnings per share for the current year.

Insider Transactions at Cencora

In other news, EVP Gina Clark sold 1,100 shares of Cencora stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total transaction of $253,528.00. Following the transaction, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Gina Clark sold 1,100 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $230.48, for a total value of $253,528.00. Following the sale, the executive vice president now directly owns 24,802 shares of the company’s stock, valued at approximately $5,716,364.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert P. Mauch sold 57,564 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $235.09, for a total transaction of $13,532,720.76. Following the completion of the sale, the chief operating officer now directly owns 24,412 shares in the company, valued at $5,739,017.08. The disclosure for this sale can be found here. Insiders have sold a total of 76,395 shares of company stock valued at $18,001,472 over the last three months. 15.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com cut shares of Cencora from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird raised their price target on shares of Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Mizuho raised their price target on shares of Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. SVB Leerink began coverage on shares of Cencora in a report on Monday, February 26th. They issued an “outperform” rating and a $261.00 price target for the company. Finally, Citigroup raised their price target on shares of Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and an average price target of $233.90.

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.