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

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.55 per share on Friday, November 29th. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Friday, November 15th. This is a boost from Cencora’s previous quarterly dividend of $0.51.

Cencora has increased its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Cencora has a dividend payout ratio of 13.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cencora to earn $14.82 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 13.8%.

Cencora Stock Performance

NYSE COR traded up $11.39 during trading on Thursday, reaching $245.38. 2,215,425 shares of the company’s stock were exchanged, compared to its average volume of 1,409,102. The business has a 50 day moving average price of $231.57 and a 200-day moving average price of $230.64. The stock has a market capitalization of $48.35 billion, a P/E ratio of 26.64, a PEG ratio of 1.49 and a beta of 0.44. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.89 and a quick ratio of 0.55. Cencora has a fifty-two week low of $191.11 and a fifty-two week high of $247.66.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.21 by $0.13. Cencora had a return on equity of 266.60% and a net margin of 0.65%. The company had revenue of $79.05 billion for the quarter, compared to the consensus estimate of $77.68 billion. Sell-side analysts forecast that Cencora will post 13.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COR has been the topic of several research reports. Barclays upped their target price on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America reaffirmed a “neutral” rating and issued a $245.00 target price (down previously from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Leerink Partners decreased their target price on Cencora from $277.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price target on Cencora from $280.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $268.67.

Insiders Place Their Bets

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares in the company, valued at approximately $67,223,750.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.80% of the company’s stock.

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.