Core-Mark Holding Co. (CORE) Sees Large Volume Increase
Shares of Core-Mark Holding Co. (NASDAQ:CORE) saw unusually-high trading volume on Monday . Approximately 943,966 shares traded hands during trading, an increase of 196% from the previous session’s volume of 318,896 shares.The stock last traded at $39.12 and had previously closed at $45.11.
A number of brokerages have recently issued reports on CORE. 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. Stephens restated a “buy” rating on shares of Core-Mark Holding in a research report on Monday, June 13th. Finally, Zacks Investment Research downgraded shares of Core-Mark Holding from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.00.
The company has a market cap of $1.79 billion and a P/E ratio of 32.95. The stock’s 50-day moving average price is $46.83 and its 200-day moving average price is $42.73.
Core-Mark Holding (NASDAQ:CORE) last issued its 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. During the same quarter last year, the company earned $0.33 EPS. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.50 billion. The business’s revenue was up 31.2% on a year-over-year basis. Analysts expect that Core-Mark Holding Co. will post $1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, August 22nd.
In related news, insider Congdon Stacy Loretz sold 3,400 shares of Core-Mark Holding stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $90.31, for a total value of $307,054.00. Following the sale, the insider now owns 63,043 shares in the company, valued at $5,693,413.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Scott E. Mcpherson sold 5,478 shares of Core-Mark Holding 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 owns 155,244 shares in the company, valued at approximately $6,996,847.08. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Core-Mark Holding stock. Principal Financial Group Inc. increased its stake 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 about 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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