Sterling Capital Management LLC bought a new stake in Core-Mark Holding Company, Inc. (NASDAQ:CORE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 34,278 shares of the business services provider’s stock, valued at approximately $1,164,000. Sterling Capital Management LLC owned about 0.07% of Core-Mark as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Howard Capital Management acquired a new stake in shares of Core-Mark in the third quarter valued at about $280,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Core-Mark in the second quarter valued at about $222,000. Skylands Capital LLC increased its position in shares of Core-Mark by 941.7% in the second quarter. Skylands Capital LLC now owns 12,500 shares of the business services provider’s stock valued at $284,000 after acquiring an additional 11,300 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Core-Mark in the second quarter valued at about $286,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Core-Mark in the second quarter valued at about $382,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Christopher Hobson sold 5,812 shares of Core-Mark stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.73, for a total transaction of $178,602.76. Following the completion of the transaction, the vice president now owns 55,355 shares in the company, valued at $1,701,059.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.
A number of research firms recently issued reports on CORE. BidaskClub downgraded Core-Mark from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Zacks Investment Research downgraded Core-Mark from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. ValuEngine raised Core-Mark from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. BMO Capital Markets reaffirmed a “hold” rating and issued a $30.00 target price (up previously from $21.00) on shares of Core-Mark in a research report on Wednesday, August 8th. Finally, Sidoti downgraded Core-Mark from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 11th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Core-Mark has an average rating of “Buy” and a consensus price target of $33.67.
Core-Mark stock opened at $29.00 on Friday. Core-Mark Holding Company, Inc. has a 52 week low of $17.10 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 1.14. The stock has a market cap of $1.36 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57.
Core-Mark (NASDAQ:CORE) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the company posted $0.37 earnings per share. Core-Mark’s quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Core-Mark Holding Company, Inc. will post 1.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.44 dividend on an annualized basis and a yield of 1.52%. This is a boost from Core-Mark’s previous quarterly dividend of $0.10. Core-Mark’s dividend payout ratio (DPR) is presently 40.00%.
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Core-Mark Company Profile
Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.
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