BidaskClub cut shares of Core-Mark (NASDAQ:CORE) from a buy rating to a hold rating in a report issued on Wednesday.
A number of other brokerages have also recently commented on CORE. Raymond James cut shares of Core-Mark from a strong-buy rating to an outperform rating and upped their target price for the company from $33.00 to $40.00 in a report on Friday, September 7th. Loop Capital upped their target price on shares of Core-Mark to $41.00 and gave the company a buy rating in a report on Friday, September 7th. Sidoti cut shares of Core-Mark from a buy rating to a neutral rating in a report on Tuesday, September 11th. ValuEngine raised shares of Core-Mark from a hold rating to a buy rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research raised shares of Core-Mark from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Friday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Core-Mark presently has a consensus rating of Hold and an average price target of $32.83.
Shares of CORE opened at $24.74 on Wednesday. Core-Mark has a 1-year low of $17.10 and a 1-year high of $40.12. The firm has a market capitalization of $1.15 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.43 and a beta of 0.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 0.96.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Core-Mark had a net margin of 0.27% and a return on equity of 11.58%. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the company earned $0.37 earnings per share. Core-Mark’s quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Core-Mark will post 1.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 19th. Core-Mark’s dividend payout ratio is presently 44.00%.
In other news, VP Christopher Hobson sold 5,812 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $30.73, for a total value of $178,602.76. Following the completion of the sale, the vice president now directly owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Core-Mark by 6.2% during the third quarter. Wells Fargo & Company MN now owns 75,362 shares of the business services provider’s stock worth $2,559,000 after acquiring an additional 4,373 shares during the period. Legal & General Group Plc increased its stake in shares of Core-Mark by 3.4% during the second quarter. Legal & General Group Plc now owns 143,146 shares of the business services provider’s stock worth $3,260,000 after acquiring an additional 4,765 shares during the period. Rhumbline Advisers increased its stake in shares of Core-Mark by 4.8% during the second quarter. Rhumbline Advisers now owns 111,619 shares of the business services provider’s stock worth $2,534,000 after acquiring an additional 5,114 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Core-Mark by 207.8% during the third quarter. PNC Financial Services Group Inc. now owns 8,960 shares of the business services provider’s stock worth $305,000 after acquiring an additional 6,049 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Core-Mark during the third quarter worth about $215,000. 93.68% of the stock is owned by institutional investors and hedge funds.
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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