Schwab Charles Investment Management Inc. Acquires 30,282 Shares of Core-Mark Holding Company, Inc. (CORE)

Schwab Charles Investment Management Inc. increased its holdings in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 305,613 shares of the business services provider’s stock after buying an additional 30,282 shares during the period. Schwab Charles Investment Management Inc. owned 0.66% of Core-Mark worth $9,823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CORE. Sei Investments Co. raised its stake in shares of Core-Mark by 48.2% during the second quarter. Sei Investments Co. now owns 5,802 shares of the business services provider’s stock worth $191,000 after buying an additional 1,887 shares during the last quarter. Arizona State Retirement System increased its stake in Core-Mark by 0.4% in the second quarter. Arizona State Retirement System now owns 24,200 shares of the business services provider’s stock valued at $800,000 after purchasing an additional 100 shares in the last quarter. First Trust Advisors LP increased its stake in Core-Mark by 90.7% in the second quarter. First Trust Advisors LP now owns 23,195 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 11,034 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Core-Mark by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 915,343 shares of the business services provider’s stock valued at $30,261,000 after purchasing an additional 164,118 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Core-Mark by 6.0% in the second quarter. Legal & General Group Plc now owns 129,887 shares of the business services provider’s stock valued at $4,292,000 after purchasing an additional 7,358 shares in the last quarter. 98.27% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the stock. BidaskClub downgraded shares of Core-Mark from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $32.00 target price on shares of Core-Mark in a research note on Friday, November 10th. Finally, Zacks Investment Research downgraded shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Core-Mark presently has an average rating of “Hold” and a consensus price target of $38.80.

Shares of Core-Mark Holding Company, Inc. (NASDAQ CORE) opened at $31.58 on Friday. Core-Mark Holding Company, Inc. has a 12 month low of $26.08 and a 12 month high of $43.94. The company has a quick ratio of 1.12, a current ratio of 2.16 and a debt-to-equity ratio of 0.93. The company has a market cap of $1,458.71, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Core-Mark (NASDAQ:CORE) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.29 billion. Core-Mark had a net margin of 0.27% and a return on equity of 9.90%. equities research analysts forecast that Core-Mark Holding Company, Inc. will post 1.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, November 27th. This is a boost from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s dividend payout ratio is 44.44%.

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

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