NorthRock Partners LLC has recently made headlines with a notable increase in its stake in Cencora, Inc. (NYSE:COR), signaling a significant move in the financial landscape. According to its latest disclosure with the Securities and Exchange Commission (SEC), the firm augmented its holdings by 5.3% during the first quarter, reflecting a strategic investment in the pharmaceutical services company.
This strategic acquisition saw NorthRock Partners LLC expand its ownership to 2,503 shares of Cencora’s stock, following the purchase of an additional 125 shares. By the close of the most recent financial quarter, NorthRock Partners LLC’s investment in Cencora had escalated to an impressive valuation of $696,000, underscoring their growing confidence in the company’s market position.
Beyond NorthRock, Cencora’s stock has attracted a diverse array of institutional investors. Exchange Traded Concepts LLC, for instance, boosted its position by 4.5% in the first quarter, now holding 1,104 shares valued at $307,000. Similarly, Dynamic Advisor Solutions LLC increased its stake by 6.4%, bringing its total to 1,535 shares worth $427,000, demonstrating widespread interest in COR Stock.
Further reinforcing the trend, GAMMA Investing LLC made a substantial leap, increasing its Cencora holdings by 57.0% to 5,748 shares, valued at $1,598,000. Even Westpac Banking Corp, during the fourth quarter, increased its position by 13.5% to 21,895 shares, worth $4,919,000. Golden State Wealth Management LLC also showed aggressive growth, lifting its holdings by 157.6% to 170 shares, a stock market move valued at $47,000, showcasing varied investment strategies.
The overall market performance of Cencora, Inc. indicates robust health. The company’s shares opened at $286.07 on a recent Friday, with a twelve-month low of $218.65 and a high of $309.35. Key financial metrics reveal a market capitalization of $55.45 billion, a price-to-earnings ratio of 33.19, and a PEG ratio of 1.45. The Cencora Inc stock maintains a steady trajectory, supported by a 50-day simple moving average of $293.13 and a 200-day simple moving average of $275.35.
Cencora also recently announced a quarterly dividend of $0.55 per share, paid on June 2nd, translating to an annualized dividend of $2.20 and a yield of 0.8%. With a dividend payout ratio (DPR) of 25.52%, the company continues to reward its shareholders, a significant aspect for financial news watchers and existing investment portfolios.
Analyst sentiment on Cencora remains largely positive, with a consensus rating of ‘Moderate Buy’ and an average price target of $309.83 from MarketBeat. Research firms like Robert W. Baird, Jefferies Financial Group, Citigroup, Morgan Stanley, and UBS Group have all issued reports, some raising price targets and reiterating ‘outperform’ or ‘buy’ ratings, highlighting confidence in COR stock performance.
Insider trading activity also provides insight into Cencora’s dynamics. Chairman Steven H. Collis recently sold 14,579 shares for over $4.2 million, a 4.47% decrease in his direct ownership. Similarly, CEO Robert P. Mauch sold 4,968 shares valued at over $1.4 million, marking a 10.50% reduction in his holdings. These insider stock market transactions, though significant in value, represent a small fraction of overall institutional investors ownership.
Overall, the pattern of institutional buying, coupled with positive analyst forecasts and consistent dividend payouts, paints a picture of a company attracting substantial investment attention. While insider sales are noted, the overwhelming majority of the company’s stock market is held by institutional investors, reinforcing Cencora’s stable position in the market. Investors and analysts alike are closely monitoring Cencora Inc for its continued trajectory.
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