Core-Mark Holding Company, Inc. (NASDAQ:CORE) insider Thomas B. Perkins sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $34.20, for a total value of $410,400.00. Following the completion of the sale, the insider now directly owns 190,666 shares of the company’s stock, valued at approximately $6,520,777.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Core-Mark Holding Company, Inc. (CORE) traded down 2.266% on Tuesday, reaching $33.425. The company’s stock had a trading volume of 36,835 shares. The firm has a 50 day moving average price of $35.08 and a 200-day moving average price of $35.51. Core-Mark Holding Company, Inc. has a 12-month low of $30.00 and a 12-month high of $50.00. The stock has a market cap of $1.55 billion, a PE ratio of 30.581 and a beta of 0.89.
Core-Mark Holding Company (NASDAQ:CORE) last issued its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.08. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.39 billion. Core-Mark Holding Company had a net margin of 0.34% and a return on equity of 11.42%. The business’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. Equities research analysts expect that Core-Mark Holding Company, Inc. will post $1.44 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Thursday, May 25th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Tuesday, May 23rd. Core-Mark Holding Company’s dividend payout ratio (DPR) is presently 32.73%.
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Institutional investors have recently modified their holdings of the stock. Clearbridge Investments LLC raised its stake in shares of Core-Mark Holding Company by 61.2% in the first quarter. Clearbridge Investments LLC now owns 3,643,365 shares of the business services provider’s stock worth $113,637,000 after buying an additional 1,383,365 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Core-Mark Holding Company by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 47,596 shares of the business services provider’s stock worth $1,484,000 after buying an additional 1,279 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Core-Mark Holding Company by 4.1% in the first quarter. Macquarie Group Ltd. now owns 901,281 shares of the business services provider’s stock worth $28,111,000 after buying an additional 35,827 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Core-Mark Holding Company during the first quarter worth $265,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Core-Mark Holding Company during the first quarter worth $613,000. Hedge funds and other institutional investors own 98.46% of the company’s stock.
A number of analysts have recently weighed in on CORE shares. Jefferies Group LLC dropped their price objective on Core-Mark Holding Company from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, March 2nd. Zacks Investment Research upgraded Core-Mark Holding Company from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Raymond James Financial, Inc. upgraded Core-Mark Holding Company from an “outperform” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a report on Tuesday, April 18th. TheStreet downgraded Core-Mark Holding Company from a “b” rating to a “c+” rating in a report on Wednesday, March 8th. Finally, Loop Capital began coverage on Core-Mark Holding Company in a report on Monday, May 15th. They set a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Core-Mark Holding Company currently has an average rating of “Hold” and a consensus price target of $42.20.
About Core-Mark Holding Company
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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