Zacks Investment Research upgraded shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $48.00 price target on the stock.

According to Zacks, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. “

Separately, Jefferies Group set a $40.00 price objective on shares of Core-Mark Holding Company and gave the stock a hold rating in a research report on Sunday, December 18th.

Shares of Core-Mark Holding Company (NASDAQ:CORE) traded up 0.37% during midday trading on Tuesday, reaching $42.96. The company’s stock had a trading volume of 101,307 shares. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 37.85 and a beta of 0.70. The company has a 50 day moving average of $39.76 and a 200-day moving average of $40.43. Core-Mark Holding Company has a 52 week low of $31.54 and a 52 week high of $50.00.

Core-Mark Holding Company (NASDAQ:CORE) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The business earned $4 billion during the quarter, compared to analyst estimates of $3.94 billion. Core-Mark Holding Company had a return on equity of 11.72% and a net margin of 0.39%. The business’s revenue was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Equities research analysts predict that Core-Mark Holding Company will post $1.38 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 23rd were given a dividend of $0.09 per share. This is a boost from Core-Mark Holding Company’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Monday, November 21st. Core-Mark Holding Company’s payout ratio is 31.72%.

In related news, CFO Christopher M. Miller sold 3,517 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $42.96, for a total value of $151,090.32. Following the completion of the sale, the chief financial officer now directly owns 12,360 shares of the company’s stock, valued at $530,985.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thomas B. Perkins sold 12,000 shares of the business’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $41.81, for a total transaction of $501,720.00. Following the completion of the sale, the insider now directly owns 216,496 shares of the company’s stock, valued at $9,051,697.76. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Oak Ridge Investments LLC boosted its stake in shares of Core-Mark Holding Company 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. California Public Employees Retirement System boosted its stake in shares of Core-Mark Holding Company by 85.4% in the second quarter. California Public Employees Retirement System now owns 50,800 shares of the company’s stock worth $2,380,000 after buying an additional 23,400 shares during the period. Aberdeen Asset Management PLC UK boosted its stake in shares of Core-Mark Holding Company by 199.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 557,064 shares of the company’s stock worth $26,104,000 after buying an additional 370,828 shares during the period. Chicago Equity Partners LLC boosted its stake in shares of Core-Mark Holding Company by 105.2% in the second quarter. Chicago Equity Partners LLC now owns 12,740 shares of the company’s stock worth $597,000 after buying an additional 6,530 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of Core-Mark Holding Company by 124.0% in the second quarter. Public Employees Retirement Association of Colorado now owns 347,146 shares of the company’s stock worth $16,267,000 after buying an additional 192,182 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Core-Mark Holding Company 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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