Oak Ridge Investments LLC lowered its position in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 35.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647,947 shares of the business services provider’s stock after selling 348,394 shares during the period. Oak Ridge Investments LLC owned approximately 1.40% of Core-Mark Holding worth $20,825,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of Core-Mark Holding by 37.5% during the third quarter. Russell Investments Group Ltd. now owns 482,842 shares of the business services provider’s stock valued at $15,518,000 after acquiring an additional 131,758 shares in the last quarter. Comerica Bank grew its position in Core-Mark Holding by 45.2% in the 3rd quarter. Comerica Bank now owns 206,969 shares of the business services provider’s stock worth $6,867,000 after purchasing an additional 64,470 shares during the period. Rhumbline Advisers grew its position in Core-Mark Holding by 2.8% in the 3rd quarter. Rhumbline Advisers now owns 126,185 shares of the business services provider’s stock worth $4,056,000 after purchasing an additional 3,436 shares during the period. Municipal Employees Retirement System of Michigan grew its position in Core-Mark Holding by 59.0% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,380 shares of the business services provider’s stock worth $559,000 after purchasing an additional 6,450 shares during the period. Finally, Sei Investments Co. grew its position in Core-Mark Holding by 44.0% in the 3rd quarter. Sei Investments Co. now owns 8,356 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,554 shares during the period. 98.75% of the stock is owned by institutional investors.
A number of equities research analysts have commented on CORE shares. Zacks Investment Research raised shares of Core-Mark Holding from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $32.00 target price on shares of Core-Mark Holding in a research report on Friday, November 10th. ValuEngine raised shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the stock a “buy” rating in a research report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Core-Mark Holding has a consensus rating of “Hold” and a consensus price target of $38.80.
Shares of Core-Mark Holding Company, Inc. (CORE) traded up $0.93 during mid-day trading on Friday, hitting $31.28. 171,300 shares of the stock were exchanged, compared to its average volume of 272,440. Core-Mark Holding Company, Inc. has a 12-month low of $26.08 and a 12-month 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 company has a market cap of $1,401.91, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98.
Core-Mark Holding (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 Holding had a net margin of 0.27% and a return on equity of 9.90%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.29 billion. sell-side analysts expect that Core-Mark Holding Company, Inc. will post 1.19 earnings per share for the current fiscal year.
Core-Mark Holding declared that its board has authorized a share repurchase plan on Monday, August 28th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th will be given a dividend of $0.10 per share. This is an increase from Core-Mark Holding’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.28%. Core-Mark Holding’s payout ratio is presently 40.00%.
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Core-Mark Holding 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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