Core-Mark Holding Co. (CORE) Trading 1.9% Higher
Core-Mark Holding Co. (NASDAQ:CORE) shares traded up 1.9% during mid-day trading on Tuesday . The company traded as high as $39.62 and last traded at $39.47, with a volume of 392,261 shares traded. The stock had previously closed at $38.72.
A number of research analysts have recently issued reports on the stock. Jefferies Group restated a “buy” rating and issued a $96.00 price target on shares of Core-Mark Holding in a research report on Wednesday, May 11th. Zacks Investment Research downgraded shares of Core-Mark Holding from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens restated a “buy” rating on shares of Core-Mark Holding in a research report on Thursday, May 12th. Finally, Raymond James Financial Inc. dropped their price target on shares of Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $72.80.
The company has a market cap of $1.77 billion and a P/E ratio of 32.60. The stock’s 50-day moving average price is $46.05 and its 200-day moving average price is $42.68.
Core-Mark Holding (NASDAQ:CORE) last announced its earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. Core-Mark Holding’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 earnings per share. Analysts expect that Core-Mark Holding Co. will post $1.41 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 24th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Monday, August 22nd.
In related news, Director Harvey L. Tepner sold 1,035 shares of the firm’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $87.00, for a total value of $90,045.00. Following the sale, the director now directly owns 19,023 shares of the company’s stock, valued at $1,655,001. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott E. Mcpherson sold 5,478 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $6,996,847.08. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Core-Mark Holding stock. Principal Financial Group Inc. raised its position in shares of Core-Mark Holding Co. (NASDAQ:CORE) by 7.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 155,806 shares of the company’s stock after buying an additional 10,580 shares during the period. Principal Financial Group Inc. owned 0.68% of Core-Mark Holding worth $12,767,000 as of its most recent SEC filing.
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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