Core-Mark (CORE) Shares Down 23%
Core-Mark Holding Company, Inc. (NASDAQ:CORE) shares were down 23% during trading on Monday . The stock traded as low as $23.95 and last traded at $24.18. Approximately 1,916,600 shares traded hands during trading, an increase of 145% from the average daily volume of 783,200 shares. The stock had previously closed at $31.41.
Several research analysts recently commented on CORE shares. Zacks Investment Research raised Core-Mark from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and set a $32.00 price target on shares of Core-Mark in a research report on Friday, November 10th. Stephens lowered Core-Mark from an “overweight” rating to an “equal weight” rating in a research note on Friday. UBS Group upgraded Core-Mark from an “outperform” rating to a “strong-buy” rating in a research note on Friday. Finally, Raymond James Financial upgraded Core-Mark from an “outperform” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.67.
The company has a current ratio of 2.16, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The firm has a market cap of $1,190.00, a P/E ratio of 27.17, a PEG ratio of 1.83 and a beta of 0.95.
Core-Mark (NASDAQ:CORE) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.29 billion. Core-Mark had a net margin of 0.27% and a return on equity of 9.90%. research analysts forecast that Core-Mark Holding Company, Inc. will post 1.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Tuesday, November 28th were paid a $0.10 dividend. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.40 annualized dividend and a yield of 1.65%. Core-Mark’s dividend payout ratio is currently 44.94%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Core-Mark by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock worth $148,000 after purchasing an additional 673 shares during the period. Voya Investment Management LLC increased its stake in shares of Core-Mark by 7.2% during the second quarter. Voya Investment Management LLC now owns 21,483 shares of the business services provider’s stock worth $710,000 after purchasing an additional 1,435 shares during the period. Nationwide Fund Advisors increased its stake in shares of Core-Mark by 2.7% during the third quarter. Nationwide Fund Advisors now owns 58,776 shares of the business services provider’s stock worth $1,889,000 after purchasing an additional 1,549 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Core-Mark by 81.7% during the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock worth $132,000 after purchasing an additional 1,797 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Core-Mark by 48.2% during the second quarter. Sei Investments Co. now owns 5,802 shares of the business services provider’s stock worth $191,000 after purchasing an additional 1,887 shares during the period. Institutional investors own 98.27% of the company’s stock.
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Core-Mark Company Profile
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. As of December 31, 2016, the Company offered services to over 43,000 customer locations across the United States and Canada through 30 distribution centers.
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