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 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.
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.
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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.
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