Core-Mark (CORE) Trading Up 6.2%

Core-Mark Holding Company, Inc. (NASDAQ:CORE) was up 6.2% on Tuesday . The company traded as high as $26.14 and last traded at $25.68. Approximately 816,100 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 789,800 shares. The stock had previously closed at $24.18.

A number of equities research analysts recently weighed in on CORE shares. Loop Capital set a $31.00 price target on Core-Mark and gave the company a “buy” rating in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research upgraded Core-Mark from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, October 30th. Raymond James Financial upgraded Core-Mark from an “outperform” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Friday. Stephens cut Core-Mark from an “overweight” rating to an “equal weight” rating in a research note on Friday. Finally, Jefferies Group restated a “hold” rating and issued a $32.00 price target on shares of Core-Mark in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $35.67.

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 firm has a market capitalization of $1,190.00, a price-to-earnings ratio of 28.34, a P/E/G ratio of 1.83 and a beta of 0.95.

Core-Mark (NASDAQ:CORE) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 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 firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.29 billion. analysts expect that Core-Mark Holding Company, Inc. will post 1.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Tuesday, November 28th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, November 27th. Core-Mark’s dividend payout ratio is currently 44.94%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Core-Mark by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 4,075,508 shares of the business services provider’s stock worth $134,736,000 after purchasing an additional 71,715 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Core-Mark by 1.4% during the 3rd quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock worth $74,288,000 after purchasing an additional 31,689 shares in the last quarter. State Street Corp grew its holdings in shares of Core-Mark by 4.1% during the 2nd quarter. State Street Corp now owns 1,097,819 shares of the business services provider’s stock worth $36,293,000 after purchasing an additional 43,605 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Core-Mark by 6.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,036,747 shares of the business services provider’s stock worth $33,321,000 after purchasing an additional 66,418 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Core-Mark by 10.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 926,770 shares of the business services provider’s stock worth $30,639,000 after purchasing an additional 89,625 shares in the last quarter. 98.27% of the stock is currently owned by institutional investors.

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About Core-Mark

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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