Zacks Investment Research upgraded shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) from a strong sell rating to a hold rating in a report issued on Tuesday.

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. “

Several other equities research analysts also recently weighed in on the stock. BidaskClub raised shares of Core-Mark Holding from a sell rating to a hold rating in a research note on Wednesday, July 5th. Loop Capital reaffirmed a buy rating and issued a $40.00 price target on shares of Core-Mark Holding in a research note on Monday, July 10th. ValuEngine downgraded shares of Core-Mark Holding from a hold rating to a sell rating in a research note on Tuesday, July 25th. Jefferies Group LLC reaffirmed a hold rating on shares of Core-Mark Holding in a research note on Friday, June 23rd. Finally, Raymond James Financial, Inc. set a $35.00 price target on shares of Core-Mark Holding and gave the company a buy rating 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. The company currently has a consensus rating of Hold and an average price target of $40.00.

Shares of Core-Mark Holding (NASDAQ CORE) traded up 0.76% during trading on Tuesday, hitting $33.28. 23,397 shares of the stock traded hands. The firm has a 50-day moving average of $29.71 and a 200-day moving average of $32.58. Core-Mark Holding has a 1-year low of $26.08 and a 1-year high of $44.12. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 37.39 and a beta of 0.97.

Core-Mark Holding (NASDAQ:CORE) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). Core-Mark Holding had a return on equity of 9.70% and a net margin of 0.27%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the prior year, the business earned $0.39 EPS. Core-Mark Holding’s quarterly revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Core-Mark Holding will post $1.24 earnings per share for the current year.

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Core-Mark Holding announced that its board has authorized a stock repurchase plan on Monday, August 28th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, August 25th. Core-Mark Holding’s dividend payout ratio (DPR) is currently 40.00%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC bought a new stake in Core-Mark Holding in the second quarter valued at $331,000. State Street Corp grew its holdings in shares of Core-Mark Holding by 4.1% during the second quarter. State Street Corp now owns 1,097,819 shares of the business services provider’s stock valued at $36,293,000 after buying an additional 43,605 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Core-Mark Holding by 7.7% during the second quarter. Macquarie Group Ltd. now owns 970,329 shares of the business services provider’s stock valued at $32,079,000 after buying an additional 69,048 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Core-Mark Holding by 77.3% during the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,904 shares during the last quarter. Finally, Third Avenue Management LLC grew its holdings in shares of Core-Mark Holding by 23.9% during the second quarter. Third Avenue Management LLC now owns 91,661 shares of the business services provider’s stock valued at $3,031,000 after buying an additional 17,699 shares during the last quarter. 98.27% of the stock is owned by hedge funds and other institutional investors.

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. 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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