Pinebridge Investments L.P. lifted its holdings in Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,643 shares of the business services provider’s stock after acquiring an additional 2,167 shares during the period. Pinebridge Investments L.P. owned 0.12% of Core-Mark worth $1,789,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Core-Mark by 30.6% in the first quarter. UBS Group AG now owns 3,423 shares of the business services provider’s stock worth $107,000 after buying an additional 802 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Core-Mark in the third quarter worth about $117,000. Riverhead Capital Management LLC lifted its position in shares of Core-Mark by 81.7% in the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock worth $132,000 after buying an additional 1,797 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of Core-Mark by 77.3% in the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock worth $144,000 after buying an additional 1,904 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Core-Mark by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock worth $148,000 after buying an additional 673 shares in the last quarter. 98.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Core-Mark Holding Company, Inc. (CORE) opened at $32.63 on Thursday. Core-Mark Holding Company, Inc. has a 52-week low of $26.08 and a 52-week high of $44.12. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. The stock has a market capitalization of $1,558.50, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94.
Core-Mark (NASDAQ:CORE) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Core-Mark had a net margin of 0.27% and a return on equity of 9.90%. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.29 billion. equities research analysts predict that Core-Mark Holding Company, Inc. will post 1.19 EPS for the current year.
Core-Mark announced that its Board of Directors has initiated a share repurchase plan on Monday, August 28th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the business services provider to purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Tuesday, November 28th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, November 27th. This is an increase from Core-Mark’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. Core-Mark’s dividend payout ratio is 44.44%.
A number of equities research analysts recently commented on the company. Jefferies Group decreased their target price on Core-Mark from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Wednesday, August 9th. Zacks Investment Research downgraded Core-Mark from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 10th. Raymond James Financial set a $35.00 price objective on Core-Mark and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded Core-Mark from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Core-Mark presently has an average rating of “Hold” and a consensus price target of $38.80.
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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