Cencora, Inc. (COR) To Go Ex-Dividend on May 9th

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend 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 annually for the last 1 consecutive years. Cencora has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research 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 0.3 %

COR stock opened at $224.00 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 0.52 and a current ratio of 0.89. The business’s 50 day moving average price is $238.31 and its two-hundred day moving average price is $218.93. Cencora has a fifty-two week low of $163.37 and a fifty-two week high of $246.75. The company has a market capitalization of $44.68 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47.

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

Insider Buying and Selling

In other Cencora news, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 285,088 shares in the company, valued at $67,702,698.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Gina Clark sold 1,100 shares of Cencora stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven H. Collis sold 10,754 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly 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. Over the last quarter, insiders sold 4,288,790 shares of company stock worth $1,009,641,379. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on COR shares. StockNews.com cut Cencora from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Mizuho increased their price target on Cencora from $192.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, February 5th. Leerink Partnrs reissued an “outperform” rating on shares of Cencora in a report on Monday, February 26th. Citigroup increased their price target on Cencora from $265.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday. Finally, SVB Leerink started coverage on Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.