Core-Mark (CORE) Raised to Hold at ValuEngine
ValuEngine upgraded shares of Core-Mark (NASDAQ:CORE) from a sell rating to a hold rating in a research note published on Tuesday morning.
A number of other analysts also recently issued reports on the stock. Sidoti downgraded shares of Core-Mark from a buy rating to a neutral rating in a report on Tuesday, September 11th. BidaskClub downgraded shares of Core-Mark from a strong-buy rating to a buy rating in a report on Tuesday, September 18th. Loop Capital set a $41.00 price objective on shares of Core-Mark and gave the company a buy rating in a report on Wednesday, September 26th. Finally, Zacks Investment Research upgraded shares of Core-Mark from a hold rating to a buy rating and set a $38.00 price objective on the stock in a report on Friday, September 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Core-Mark presently has an average rating of Buy and a consensus price target of $32.00.
NASDAQ:CORE traded up $0.83 during mid-day trading on Tuesday, reaching $27.67. 13,031 shares of the company were exchanged, compared to its average volume of 296,071. Core-Mark has a 12 month low of $17.10 and a 12 month high of $40.12. The company has a quick ratio of 0.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.24 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.41 and a beta of 0.62.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.59%. This is a boost from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Monday, November 19th. Core-Mark’s payout ratio is 44.00%.
In other news, CFO Christopher M. Miller sold 2,678 shares of Core-Mark stock in a transaction on Friday, January 4th. The stock was sold at an average price of $24.74, for a total transaction of $66,253.72. Following the completion of the sale, the chief financial officer now owns 18,337 shares of the company’s stock, valued at $453,657.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Hobson sold 5,812 shares of Core-Mark stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $30.73, for a total value of $178,602.76. Following the sale, the vice president now directly owns 55,355 shares of the company’s stock, valued at approximately $1,701,059.15. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Core-Mark by 136.8% during the second quarter. Cubist Systematic Strategies LLC now owns 27,696 shares of the business services provider’s stock worth $629,000 after buying an additional 16,002 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Core-Mark during the third quarter worth $1,157,000. Dimensional Fund Advisors LP lifted its holdings in shares of Core-Mark by 4.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,695,409 shares of the business services provider’s stock worth $91,536,000 after buying an additional 115,479 shares in the last quarter. Laurion Capital Management LP acquired a new position in Core-Mark in the third quarter valued at about $293,000. Finally, Man Group plc acquired a new position in Core-Mark in the third quarter valued at about $8,975,000. 93.96% of the stock is owned by institutional investors.
Core-Mark Company Profile
Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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