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

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Stockholders 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 dividend yield of 0.86%.

Cencora has raised its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 15 years. Cencora has a dividend payout ratio of 13.3% 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 traded up $3.81 during trading hours on Wednesday, hitting $255.38. The company’s stock had a trading volume of 219,319 shares, compared to its average volume of 1,267,642. The company has a 50-day simple moving average of $239.00 and a 200 day simple moving average of $236.39. The firm has a market capitalization of $49.36 billion, a PE ratio of 33.95, 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 fifty-two week low of $214.77 and a fifty-two week high of $262.26.

Cencora (NYSE:COR) last announced its earnings results on Wednesday, February 5th. The company reported $3.73 earnings per share for the quarter, beating the consensus estimate of $3.50 by $0.23. Cencora had a return on equity of 266.62% and a net margin of 0.51%. As a group, sell-side analysts expect that Cencora will post 15.32 EPS for the current year.

Insiders Place Their Bets

In other Cencora news, EVP Silvana Battaglia sold 1,678 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $228.72, for a total transaction of $383,792.16. Following the transaction, the executive vice president now owns 20,329 shares of the company’s stock, valued at $4,649,648.88. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $242.16, for a total value of $5,208,619.44. Following the transaction, the chairman now owns 306,752 shares in the company, valued at $74,283,064.32. The trade was a 6.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,187 shares of company stock valued at $17,790,912 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on COR. Mizuho initiated coverage on Cencora in a report on Wednesday, December 4th. They issued an “outperform” rating and a $280.00 price objective on the stock. Wells Fargo & Company raised their price target on shares of Cencora from $237.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 29th. Evercore ISI raised their target price on Cencora from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. 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. Finally, Barclays lifted their price target on shares of Cencora from $263.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Two 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, the stock has an average rating of “Moderate Buy” and an average price target of $278.40.

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.