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 yield of 0.91%. The ex-dividend date is Thursday, May 9th.

Cencora has raised its dividend by an average of 5.0% per year over the last three years and has raised its dividend every year for the last 1 years. Cencora has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cencora to earn $14.69 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 Performance

NYSE COR opened at $224.04 on Tuesday. The company’s 50 day simple moving average is $238.02 and its two-hundred day simple moving average is $219.60. The company has a debt-to-equity ratio of 3.41, a current ratio of 0.89 and a quick ratio of 0.53. Cencora has a 1 year low of $163.37 and a 1 year high of $246.75. The stock has a market capitalization of $44.69 billion, a PE ratio of 24.51, a P/E/G ratio of 1.61 and a beta of 0.47.

Cencora (NYSE:COR) last issued its quarterly earnings data 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. Cencora had a return on equity of 268.67% and a net margin of 0.67%. The company had revenue of $68.41 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the business posted $3.50 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Cencora will post 13.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on COR. StockNews.com lowered Cencora from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup increased 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, April 30th. Robert W. Baird lifted their price objective on shares of Cencora from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. SVB Leerink assumed coverage on Cencora in a research note on Monday, February 26th. They issued an “outperform” rating and a $261.00 target price on the stock. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cencora in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cencora currently has an average rating of “Moderate Buy” and a consensus price target of $233.90.

Insider Transactions at Cencora

In other Cencora news, major shareholder Walgreens Boots Alliance, Inc. sold 4,212,395 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 26,277,561 shares in the company, valued at $6,186,000,635.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cencora 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 shares were sold at an average price of $235.41, for a total value of $991,639,906.95. Following the transaction, the insider now owns 26,277,561 shares in the company, 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. Also, EVP Gina Clark sold 1,100 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $230.48, for a total transaction of $253,528.00. Following the sale, the executive vice president now owns 24,802 shares of the company’s stock, valued at $5,716,364.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,288,790 shares of company stock worth $1,009,641,379. 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.