BB&T Corp Lowers Position in Core-Mark Holding Company, Inc. (CORE)

BB&T Corp lowered its stake in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,568 shares of the business services provider’s stock after selling 665 shares during the period. BB&T Corp’s holdings in Core-Mark Holding were worth $383,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CORE. Navellier & Associates Inc raised its stake in Core-Mark Holding by 9.1% in the first quarter. Navellier & Associates Inc now owns 15,452 shares of the business services provider’s stock valued at $482,000 after buying an additional 1,291 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Core-Mark Holding by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Core-Mark Holding by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,003,793 shares of the business services provider’s stock valued at $124,879,000 after buying an additional 208,935 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Core-Mark Holding by 4.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 860,000 shares of the business services provider’s stock valued at $26,823,000 after buying an additional 40,000 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Core-Mark Holding by 3.4% in the first quarter. Wellington Management Group LLP now owns 654,453 shares of the business services provider’s stock valued at $20,412,000 after buying an additional 21,286 shares during the last quarter. 98.27% of the stock is owned by institutional investors and hedge funds.

Shares of Core-Mark Holding Company, Inc. (NASDAQ CORE) opened at 26.51 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of 29.79 and a beta of 0.87. The company has a 50 day moving average price of $33.63 and a 200-day moving average price of $33.41. Core-Mark Holding Company, Inc. has a 52-week low of $26.08 and a 52-week high of $45.70.

Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts predict that Core-Mark Holding Company, Inc. will post $1.23 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, August 25th. Core-Mark Holding’s payout ratio is 40.00%.

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Several equities analysts have recently commented on CORE shares. Zacks Investment Research upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC set a $35.00 price objective on Core-Mark Holding and gave the company a “hold” rating in a research report on Monday, May 8th. Raymond James Financial, Inc. restated an “outperform” rating on shares of Core-Mark Holding in a research report on Wednesday, May 10th. Loop Capital started coverage on Core-Mark Holding in a research report on Monday, May 15th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, BidaskClub downgraded Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Core-Mark Holding presently has a consensus rating of “Hold” and an average price target of $40.00.

In other news, insider Thomas B. Perkins sold 12,000 shares of Core-Mark Holding stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.20, for a total transaction of $410,400.00. Following the sale, the insider now owns 190,666 shares of the company’s stock, valued at approximately $6,520,777.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott E. Mcpherson sold 10,000 shares of Core-Mark Holding stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $35.33, for a total transaction of $353,300.00. Following the sale, the senior vice president now directly owns 144,651 shares in the company, valued at approximately $5,110,519.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,970 shares of company stock worth $1,435,622. 2.40% of the stock is currently owned by insiders.

About Core-Mark Holding

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.

Institutional Ownership by Quarter for Core-Mark Holding (NASDAQ:CORE)

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