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

Cencora, Inc. (NYSE:COR) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 9th.

Cencora has increased its dividend by an average of 5.0% annually 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 $14.64 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 Stock Down 1.9 %

NYSE:COR traded down $4.46 on Thursday, hitting $224.74. The stock had a trading volume of 2,034,359 shares, compared to its average volume of 1,283,249. The company has a quick ratio of 0.52, a current ratio of 0.88 and a debt-to-equity ratio of 3.94. Cencora has a 52 week low of $163.37 and a 52 week high of $246.75. The business’s fifty day moving average is $238.76 and its 200 day moving average is $218.63. The company has a market cap of $44.83 billion, a PE ratio of 24.97, a P/E/G ratio of 1.83 and a beta of 0.47.

Cencora (NYSE:COR) last issued 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 company had revenue of $68.41 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. Cencora’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $3.50 EPS. On average, equities research analysts expect that Cencora will post 13.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COR has been the topic of several recent research reports. StockNews.com raised shares of Cencora from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 1st. Robert W. Baird increased their price target on Cencora from $275.00 to $277.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho upped their target price on shares of Cencora from $192.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Barclays began coverage on shares of Cencora in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $242.00 target price for the company. Finally, Citigroup boosted their price target on shares of Cencora from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.18.

Insider Buying and Selling

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total transaction of $991,639,906.95. Following the completion of the transaction, the insider now directly owns 26,277,561 shares of the company’s stock, valued at $6,186,000,635.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $235.41, for a total value of $991,639,906.95. Following the sale, the insider now directly owns 26,277,561 shares in the company, valued at approximately $6,186,000,635.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $237.48, for a total transaction of $2,553,859.92. Following the transaction, the chief executive officer now owns 285,088 shares of the company’s stock, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,288,790 shares of company stock valued at $1,009,641,379. 15.80% of the stock is 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.