Riverhead Capital Management LLC Has $132,000 Position in Core-Mark Holding Company, Inc. (CORE)
Riverhead Capital Management LLC increased its position in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 81.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,997 shares of the business services provider’s stock after purchasing an additional 1,797 shares during the quarter. Riverhead Capital Management LLC’s holdings in Core-Mark Holding were worth $132,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in Core-Mark Holding by 30.6% in the first quarter. UBS Group AG now owns 3,423 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 802 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Core-Mark Holding by 65.1% in the first quarter. Victory Capital Management Inc. now owns 3,811 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 1,503 shares during the last quarter. Quantbot Technologies LP boosted its stake in Core-Mark Holding by 550.9% in the first quarter. Quantbot Technologies LP now owns 3,821 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 3,234 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Core-Mark Holding in the first quarter valued at about $123,000. Finally, Sei Investments Co. boosted its stake in Core-Mark Holding by 48.2% in the second quarter. Sei Investments Co. now owns 5,802 shares of the business services provider’s stock valued at $191,000 after acquiring an additional 1,887 shares during the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.
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Core-Mark Holding Company, Inc. (CORE) opened at 32.81 on Thursday. Core-Mark Holding Company, Inc. has a 1-year low of $26.08 and a 1-year high of $44.12. The stock has a market capitalization of $1.52 billion, a PE ratio of 36.87 and a beta of 0.97. The firm has a 50-day moving average of $28.78 and a 200-day moving average of $32.54.
Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. Equities analysts expect that Core-Mark Holding Company, Inc. will post $1.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, August 25th. Core-Mark Holding’s payout ratio is presently 40.00%.
Core-Mark Holding declared that its board has initiated a share repurchase program on Monday, August 28th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
A number of research analysts have weighed in on the stock. Loop Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Core-Mark Holding in a research note on Monday, July 10th. ValuEngine cut shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC dropped their target price on shares of Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Core-Mark Holding has an average rating of “Hold” and an average target price of $40.00.
About Core-Mark Holding
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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