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

Cencora, Inc. (NYSE:COR - Get Free Report) 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 of this dividend is Thursday, May 9th.

Cencora has increased its dividend payment 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 dividend 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 Price Performance

Shares of COR traded down $4.45 on Thursday, reaching $224.75. The stock had a trading volume of 2,042,113 shares, compared to its average volume of 1,289,394. Cencora has a twelve month low of $163.37 and a twelve month high of $246.75. The firm has a market capitalization of $44.83 billion, a PE ratio of 24.48, a PEG ratio of 1.83 and a beta of 0.47. The firm has a 50-day moving average of $238.57 and a 200 day moving average of $218.67. 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 (NYSE:COR - Get Free Report) last posted its earnings results 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. The company had revenue of $68.41 billion for the quarter, compared to analyst estimates of $70.60 billion. Cencora had a return on equity of 323.23% and a net margin of 0.69%. Cencora's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.50 earnings per share. Sell-side analysts expect that Cencora will post 13.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Leerink Partnrs reaffirmed an "outperform" rating on shares of Cencora in a report on Monday, February 26th. StockNews.com lowered Cencora from a "strong-buy" rating to a "buy" rating in a research note on Thursday. SVB Leerink initiated coverage on Cencora in a research report on Monday, February 26th. They set an "outperform" rating and a $261.00 price target for the company. Mizuho boosted their price target on Cencora from $192.00 to $224.00 and gave the stock a "neutral" rating in a report on Monday, February 5th. Finally, Barclays started coverage on Cencora in a research note on Wednesday, January 3rd. They set an "overweight" rating and a $242.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.18.

Insider Activity

In related news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company's stock, valued at $6,186,000,635.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $991,639,906.95. Following the transaction, the insider now directly owns 26,277,561 shares of the company's stock, valued at approximately $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven H. Collis sold 10,754 shares of Cencora stock in a transaction on Tuesday, April 16th. The shares were 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 owns 285,088 shares in the company, valued at approximately $67,702,698.24. The disclosure for this sale can be found here. Insiders sold a total of 4,288,790 shares of company stock valued at $1,009,641,379 in the last 90 days. 15.80% of the stock is currently owned by insiders.

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.