Core-Mark Holding Co. (NASDAQ:CORE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. “

A number of other research analysts have also commented on CORE. Raymond James Financial Inc. lowered their price target on Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, August 30th. Jefferies Group lowered Core-Mark Holding from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a report on Friday, September 30th.

Core-Mark Holding (NASDAQ:CORE) opened at 33.31 on Wednesday. The firm has a market cap of $1537.36 billion, a P/E ratio of 29.22 and a beta of 0.65. The company has a 50-day moving average of $35.04 and a 200 day moving average of $41.43. Core-Mark Holding has a 52 week low of $31.54 and a 52 week high of $50.00.

Core-Mark Holding (NASDAQ:CORE) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.08. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.94 billion. Core-Mark Holding had a net margin of 0.39% and a return on equity of 11.72%. Core-Mark Holding’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the business posted $0.36 earnings per share. On average, equities analysts predict that Core-Mark Holding will post $1.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, November 21st. This represents a $0.36 annualized dividend and a yield of 1.08%. This is a boost from Core-Mark Holding’s previous quarterly dividend of $0.08. Core-Mark Holding’s dividend payout ratio (DPR) is currently 28.19%.

In related news, SVP Scott E. Mcpherson sold 5,478 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 155,244 shares of the company’s stock, valued at $6,996,847.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott E. Mcpherson sold 4,522 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total value of $204,484.84. Following the transaction, the senior vice president now directly owns 155,244 shares of the company’s stock, 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 and other institutional investors have recently made changes to their positions in CORE. Aperio Group LLC boosted its position 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 valued at $297,000 after buying an additional 980 shares in the last quarter. BlackRock Inc. raised its position in 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. BlackRock Group LTD raised its position in Core-Mark Holding by 4.5% in the first quarter. BlackRock Group LTD now owns 36,706 shares of the company’s stock worth $2,993,000 after buying an additional 1,589 shares during the period. State Street Corp raised its position in Core-Mark Holding by 4.3% in the first quarter. State Street Corp now owns 434,574 shares of the company’s stock worth $35,442,000 after buying an additional 17,826 shares during the period. Finally, Geode Capital Management LLC raised its position in Core-Mark Holding by 9.1% in the first quarter. Geode Capital Management LLC now owns 161,808 shares of the company’s stock worth $13,197,000 after buying an additional 13,517 shares during the period. 98.16% of the stock is 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.

5 Day Chart for NASDAQ:CORE

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