Core-Mark Holding Co. (CORE) Downgraded to Hold at Jefferies Group
Core-Mark Holding Co. (NASDAQ:CORE) was downgraded by stock analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued on Friday.
Several other research firms also recently weighed in on CORE. Raymond James Financial Inc. cut their price target on Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, August 30th. Stephens reiterated a “buy” rating on shares of Core-Mark Holding in a research note on Monday, June 13th. Finally, Zacks Investment Research upgraded Core-Mark Holding from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, August 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.80.
Core-Mark Holding (NASDAQ:CORE) opened at 36.85 on Friday. The firm has a 50-day moving average price of $39.37 and a 200-day moving average price of $42.53. Core-Mark Holding has a 52-week low of $31.70 and a 52-week high of $50.00. The company has a market cap of $1.70 billion, a PE ratio of 31.36 and a beta of 0.77.
Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.03. The business earned $3.70 billion during the quarter, compared to the consensus estimate of $3.50 billion. Core-Mark Holding had a net margin of 0.44% and a return on equity of 12.18%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. On average, analysts forecast that Core-Mark Holding will post $1.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 24th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.87%. Core-Mark Holding’s dividend payout ratio (DPR) is 27.35%.
In related news, SVP Scott E. Mcpherson sold 5,478 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $45.07, for a total transaction of $246,893.46. Following the sale, the senior vice president now owns 155,244 shares of the company’s stock, valued at approximately $6,996,847.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott E. Mcpherson sold 4,522 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $45.22, for a total value of $204,484.84. Following the sale, the senior vice president now directly owns 155,244 shares in the company, valued at approximately $7,020,133.68. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Analytic Investors LLC boosted its stake in shares of Core-Mark Holding by 0.4% in the second quarter. Analytic Investors LLC now owns 13,746 shares of the company’s stock worth $644,000 after buying an additional 53 shares during the period. Aperio Group LLC boosted its stake in shares of Core-Mark Holding by 36.7% in the first quarter. Aperio Group LLC now owns 3,647 shares of the company’s stock worth $297,000 after buying an additional 980 shares during the period. Strs Ohio boosted its stake in shares of Core-Mark Holding by 7.7% in the second quarter. Strs Ohio now owns 15,400 shares of the company’s stock worth $721,000 after buying an additional 1,100 shares during the period. Paloma Partners Management Co boosted its stake in shares of Core-Mark Holding by 27.7% in the second quarter. Paloma Partners Management Co now owns 6,055 shares of the company’s stock worth $283,000 after buying an additional 1,313 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Core-Mark Holding by 175.0% in the first quarter. BlackRock Inc. now owns 2,148 shares of the company’s stock worth $175,000 after buying an additional 1,367 shares during the period. 96.48% of the stock is currently owned by institutional investors and hedge funds.
Core-Mark Holding 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 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.
Receive News & Stock Ratings for Core-Mark Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core-Mark Holding Co. and related stocks with our FREE daily email newsletter.