Zacks Investment Research upgraded shares of Core-Mark (NASDAQ:CORE) from a strong sell rating to a hold rating in a research note released on Tuesday, January 2nd.
According to Zacks, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. “
Other equities research analysts have also recently issued reports about the stock. Jefferies Group reiterated a hold rating and set a $32.00 price target on shares of Core-Mark in a research report on Friday, November 10th. BidaskClub cut shares of Core-Mark from a hold rating to a sell rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $30.50.
Core-Mark (NASDAQ CORE) traded down $0.82 during trading hours on Tuesday, hitting $24.40. 379,700 shares of the stock traded hands, compared to its average volume of 684,929. The company has a current ratio of 2.16, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. Core-Mark has a 12-month low of $23.95 and a 12-month high of $43.50. The stock has a market capitalization of $1,130.00, a P/E ratio of 27.42, a P/E/G ratio of 1.83 and a beta of 0.95.
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 analysts’ consensus estimates of $0.41 by ($0.04). Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.29 billion. analysts expect that Core-Mark will post 1.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Tuesday, November 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.64%. This is an increase from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s payout ratio is currently 44.94%.
Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Core-Mark by 17.7% during the 2nd 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 during the last quarter. Voya Investment Management LLC lifted its position in shares of Core-Mark by 7.2% during the 2nd quarter. Voya Investment Management LLC now owns 21,483 shares of the business services provider’s stock worth $710,000 after buying an additional 1,435 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Core-Mark by 2.7% during the 3rd quarter. Nationwide Fund Advisors now owns 58,776 shares of the business services provider’s stock worth $1,889,000 after buying an additional 1,549 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Core-Mark by 81.7% during the 2nd 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 during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Core-Mark by 48.2% during the 2nd 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. Institutional investors and hedge funds own 98.27% of the company’s stock.
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Core-Mark Company 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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