Jefferies Group Lowers Core-Mark Holding Co. (CORE) to Hold
Jefferies Group cut shares of Core-Mark Holding Co. (NASDAQ:CORE) from a buy rating to a hold rating in a research note issued to investors on Friday morning. Jefferies Group currently has $33.00 target price on the stock.
A number of other equities analysts also recently weighed in on CORE. Stephens reissued a buy rating on shares of Core-Mark Holding in a report on Monday, June 13th. Zacks Investment Research downgraded shares of Core-Mark Holding from a buy rating to a hold rating in a report on Tuesday, August 9th. Finally, Raymond James Financial Inc. cut 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 report on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Core-Mark Holding presently has an average rating of Buy and an average target price of $60.20.
Core-Mark Holding (NASDAQ:CORE) opened at 35.47 on Friday. The firm has a 50-day moving average of $38.68 and a 200 day moving average of $42.46. Core-Mark Holding has a 12-month low of $33.00 and a 12-month high of $50.00. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 30.19 and a beta of 0.64.
Core-Mark Holding (NASDAQ:CORE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.03. The company earned $3.70 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Core-Mark Holding had a return on equity of 12.18% and a net margin of 0.44%. Core-Mark Holding’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Analysts expect that Core-Mark Holding will post $1.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 22nd. Core-Mark Holding’s dividend payout ratio (DPR) is presently 27.35%.
In other Core-Mark Holding news, SVP Scott E. Mcpherson sold 5,478 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.07, for a total transaction of $246,893.46. Following the sale, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at $6,996,847.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Scott E. Mcpherson sold 4,522 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total transaction of $204,484.84. Following the sale, the senior vice president now directly owns 155,244 shares in the company, valued at $7,020,133.68. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Core-Mark Holding during the fourth quarter valued at approximately $8,593,000. Aperio Group LLC boosted its stake in shares of Core-Mark Holding by 36.7% in the first quarter. Aperio Group LLC now owns 3,647 shares of the company’s stock valued at $297,000 after buying an additional 980 shares in the last quarter. Virginia Retirement System bought a new stake in shares of Core-Mark Holding during the first quarter valued at $343,000. Pacad Investment Ltd. boosted its stake in shares of Core-Mark Holding by 400.0% in the first quarter. Pacad Investment Ltd. now owns 17,500 shares of the company’s stock valued at $1,427,000 after buying an additional 14,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Core-Mark Holding by 6.1% in the first quarter. TIAA CREF Investment Management LLC now owns 99,577 shares of the company’s stock valued at $8,122,000 after buying an additional 5,722 shares in the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.
Core-Mark Holding Company Profile
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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