Published On: Wed, Sep 21st, 2016

Core-Mark Holding Co. (CORE) Trading Down 3.4%

Core-Mark Holding Co. (NASDAQ:CORE)’s share price dropped 3.4% on Tuesday . The company traded as low as $34.93 and last traded at $35.12, with a volume of 117,402 shares. The stock had previously closed at $36.34.
CORE has been the subject of a number of analyst reports. Raymond James Financial Inc. lowered their target price on shares of Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, August 30th. Stephens reissued a “buy” rating on shares of Core-Mark Holding in a research note on Monday, June 13th. Zacks Investment Research raised shares of Core-Mark Holding from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, August 30th. Finally, Jefferies Group reissued a “buy” rating on shares of Core-Mark Holding in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.80.
The firm’s 50 day moving average is $41.95 and its 200-day moving average is $42.69. The company has a market capitalization of $1.63 billion, a PE ratio of 29.92 and a beta of 0.77.

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Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.03. Core-Mark Holding had a return on equity of 12.18% and a net margin of 0.44%. The company earned $3.70 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the firm earned $0.33 EPS. Core-Mark Holding’s quarterly revenue was up 31.2% on a year-over-year basis. On average, analysts predict that Core-Mark Holding Co. will post $1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24th were paid a $0.08 dividend. The ex-dividend date was Monday, August 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.91%. Core-Mark Holding’s dividend payout ratio is presently 27.35%.
In other Core-Mark Holding news, SVP Scott E. Mcpherson sold 4,522 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total value of $204,484.84. Following the completion of the transaction, the senior vice president now owns 155,244 shares of the company’s stock, valued at approximately $7,020,133.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Scott E. Mcpherson sold 5,478 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $45.07, for a total transaction of $246,893.46. Following the completion of the sale, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at approximately $6,996,847.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CORE. Vanguard Group Inc. boosted its stake in shares of Core-Mark Holding by 110.0% in the second quarter. Vanguard Group Inc. now owns 3,532,723 shares of the company’s stock worth $165,543,000 after buying an additional 1,850,417 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Core-Mark Holding by 83.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,065,104 shares of the company’s stock worth $143,627,000 after buying an additional 1,393,345 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Core-Mark Holding by 105.3% in the second quarter. BlackRock Fund Advisors now owns 2,953,441 shares of the company’s stock worth $138,398,000 after buying an additional 1,514,838 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Core-Mark Holding by 117.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,361,940 shares of the company’s stock worth $63,821,000 after buying an additional 736,329 shares during the period. Finally, Oak Ridge Investments LLC boosted its stake in shares of Core-Mark Holding by 97.0% in the second quarter. Oak Ridge Investments LLC now owns 1,322,855 shares of the company’s stock worth $61,989,000 after buying an additional 651,270 shares during the period. 96.59% of the stock is owned by institutional investors.
About Core-Mark Holding
Core-Mark Holding Company, Inc is a wholesale distributor to the convenience retail industry in North America. The Company provides sales, marketing, distribution and logistics services to over 36,500 customer locations across the United States and Canada through over 30 distribution centers. The Company’s segments include the United States, Canada and Corporate.

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