P Schoenfeld Asset Management LP purchased a new stake in CST Brands Inc (NYSE:CST) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 596,410 shares of the specialty retailer’s stock, valued at approximately $28,681,000. CST Brands accounts for about 2.2% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 13th largest position. P Schoenfeld Asset Management LP owned about 0.79% of CST Brands as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in shares of CST Brands by 22.5% in the first quarter. Parametric Portfolio Associates LLC now owns 139,543 shares of the specialty retailer’s stock valued at $6,711,000 after buying an additional 25,600 shares during the last quarter. Parkwood LLC boosted its stake in shares of CST Brands by 24.2% in the first quarter. Parkwood LLC now owns 7,243 shares of the specialty retailer’s stock valued at $348,000 after buying an additional 1,409 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of CST Brands during the first quarter valued at $1,113,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of CST Brands by 8.7% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 351,630 shares of the specialty retailer’s stock valued at $16,910,000 after buying an additional 28,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of CST Brands by 0.6% in the first quarter. Gabelli Funds LLC now owns 1,587,081 shares of the specialty retailer’s stock valued at $76,323,000 after buying an additional 10,048 shares during the last quarter. 85.56% of the stock is currently owned by institutional investors.
CST Brands Inc (NYSE:CST) traded down 0.04% during midday trading on Friday, hitting $48.35. The stock had a trading volume of 474,283 shares. The stock has a market cap of $3.67 billion, a PE ratio of 11.99 and a beta of 1.08. CST Brands Inc has a 52-week low of $37.04 and a 52-week high of $48.52. The company’s 50 day moving average price is $48.32 and its 200-day moving average price is $48.24.
CST Brands (NYSE:CST) last announced its quarterly earnings results on Monday, May 8th. The specialty retailer reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.09. CST Brands had a net margin of 3.63% and a return on equity of 8.16%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. Analysts forecast that CST Brands Inc will post $1.60 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://transcriptdaily.com/2017/05/20/596410-shares-in-cst-brands-inc-cst-acquired-by-p-schoenfeld-asset-management-lp.html.
Separately, Jefferies Group LLC set a $49.00 price target on CST Brands and gave the stock a “hold” rating in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $45.88.
In other news, SVP Gerard J. Sonnier sold 1,865 shares of CST Brands stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $48.27, for a total value of $90,023.55. Following the transaction, the senior vice president now directly owns 14,829 shares in the company, valued at approximately $715,795.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.09% of the company’s stock.
About CST Brands
CST Brands, Inc (CST) is a holding company. The Company is an independent retail of motor fuel and convenience merchandise in the United States and eastern Canada. Its segments include U.S. Retail, Canadian Retail and CrossAmerica. As of December 31, 2016, its U.S. Retail segment had 1,167 Company-operated retail sites located in Arkansas, Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico, New York, Oklahoma and Texas.
Receive News & Ratings for CST Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CST Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.