Core-Mark Holding Co. (CORE) Trading Up 1.8%
Core-Mark Holding Co. (NASDAQ:CORE) was up 1.8% during mid-day trading on Friday . The stock traded as high as $44.90 and last traded at $44.86, with a volume of 176,773 shares. The stock had previously closed at $44.05.
Several equities research analysts recently issued reports on CORE shares. Stephens reiterated a “buy” rating on shares of Core-Mark Holding in a report on Monday, June 13th. Jefferies Group reissued a “buy” rating on shares of Core-Mark Holding in a research note on Wednesday, June 8th. Finally, Zacks Investment Research raised shares of Core-Mark Holding from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $90.00.
The stock has a market cap of $2.06 billion and a PE ratio of 37.96. The company’s 50 day moving average is $47.14 and its 200-day moving average is $42.36.
Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.03. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Core-Mark Holding Co. will post $1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 24th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, August 22nd. This represents a $0.32 annualized dividend and a yield of 0.72%.
In other Core-Mark Holding news, insider Congdon Stacy Loretz sold 3,400 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $90.31, for a total transaction of $307,054.00. Following the transaction, the insider now directly owns 63,043 shares in the company, valued at $5,693,413.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas B. Perkins sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $84.47, for a total transaction of $506,820.00. Following the transaction, the chief executive officer now owns 112,198 shares in the company, valued at $9,477,365.06. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Core-Mark Holding by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 155,806 shares of the company’s stock valued at $12,767,000 after buying an additional 10,580 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of Core-Mark Holding by 271.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 31,610 shares of the company’s stock valued at $2,590,000 after buying an additional 23,110 shares during the last quarter. Finally, State of Tennessee Treasury Department bought a new position in shares of Core-Mark Holding during the fourth quarter valued at $1,475,000.
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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