Rhumbline Advisers reduced its holdings in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 118,650 shares of the business services provider’s stock after selling 7,535 shares during the period. Rhumbline Advisers owned approximately 0.26% of Core-Mark worth $3,747,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of CORE. SG Americas Securities LLC purchased a new position in Core-Mark during the 3rd quarter worth $117,000. Zions Bancorporation purchased a new position in Core-Mark during the 3rd quarter worth $161,000. Sei Investments Co. grew its position in Core-Mark by 44.0% during 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 last quarter. Parametrica Management Ltd purchased a new position in Core-Mark during the 4th quarter worth $281,000. Finally, California Public Employees Retirement System grew its position in Core-Mark by 23.5% during the 2nd quarter. California Public Employees Retirement System now owns 10,500 shares of the business services provider’s stock worth $347,000 after purchasing an additional 2,000 shares during the last quarter. 97.82% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on CORE shares. Raymond James Financial raised shares of Core-Mark from an “outperform” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Friday, January 5th. Loop Capital set a $31.00 price objective on shares of Core-Mark and gave the stock a “buy” rating in a research report on Monday, January 8th. They noted that the move was a valuation call. Stephens downgraded shares of Core-Mark from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 5th. Jefferies Group reissued a “hold” rating and set a $23.00 price objective on shares of Core-Mark in a research report on Thursday, March 1st. Finally, BMO Capital Markets reissued a “hold” rating and set a $26.00 price objective on shares of Core-Mark in a research report on Wednesday, January 10th. 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 given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.17.
Core-Mark (NASDAQ:CORE) last issued its earnings results on Thursday, March 1st. The business services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.09 billion. Core-Mark had a net margin of 0.21% and a return on equity of 8.84%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. sell-side analysts expect that Core-Mark Holding Company, Inc. will post 1.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 12th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, March 9th. Core-Mark’s payout ratio is 55.56%.
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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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