Navellier & Associates Inc Sells 2,221 Shares of Core-Mark Holding Company, Inc. (CORE)
Navellier & Associates Inc decreased its stake in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 14.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,231 shares of the business services provider’s stock after selling 2,221 shares during the period. Navellier & Associates Inc’s holdings in Core-Mark Holding were worth $437,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CORE. UBS Asset Management Americas Inc. raised its holdings in shares of Core-Mark Holding by 22.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 22,863 shares of the business services provider’s stock valued at $713,000 after acquiring an additional 4,177 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Core-Mark Holding in the 1st quarter valued at about $207,000. Ameriprise Financial Inc. raised its holdings in shares of Core-Mark Holding by 7.6% in the 1st quarter. Ameriprise Financial Inc. now owns 256,740 shares of the business services provider’s stock valued at $8,008,000 after acquiring an additional 18,140 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Core-Mark Holding in the 1st quarter valued at about $123,000. Finally, Mason Street Advisors LLC raised its holdings in shares of Core-Mark Holding by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 10,830 shares of the business services provider’s stock valued at $338,000 after acquiring an additional 745 shares in the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on CORE. Jefferies Group LLC lowered their price target on Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Wednesday, August 9th. Raymond James Financial, Inc. set a $35.00 price target on Core-Mark Holding and gave the company a “buy” rating in a report on Wednesday, August 9th. BidaskClub cut Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised Core-Mark Holding from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, ValuEngine cut Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. One investment 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 stock presently has a consensus rating of “Hold” and a consensus target price of $40.00.
Core-Mark Holding Company, Inc. (NASDAQ:CORE) traded down 0.1267% during mid-day trading on Thursday, hitting $33.4975. The company’s stock had a trading volume of 39,197 shares. The stock has a market cap of $1.55 billion, a P/E ratio of 37.6376 and a beta of 0.97. Core-Mark Holding Company, Inc. has a 52-week low of $26.08 and a 52-week high of $44.12. The company’s 50 day moving average is $30.49 and its 200-day moving average is $32.67.
Core-Mark Holding (NASDAQ:CORE) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.96 billion. Core-Mark Holding had a return on equity of 9.70% and a net margin of 0.27%. Core-Mark Holding’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. On average, equities analysts predict that Core-Mark Holding Company, Inc. will post $1.24 EPS for the current fiscal year.
Core-Mark Holding announced that its board has approved a share repurchase program on Monday, August 28th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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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