Core-Mark Holding Company, Inc. (NASDAQ:CORE) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Tuesday, August 28th will be given a dividend of 0.10 per share by the business services provider on Friday, September 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, August 27th.
Core-Mark has raised its dividend by an average of 22.3% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Core-Mark has a payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Core-Mark to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 29.9%.
CORE traded up $0.78 on Wednesday, reaching $29.06. The company had a trading volume of 926,496 shares, compared to its average volume of 391,603. The company has a market capitalization of $1.13 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.09 and a quick ratio of 1.07. Core-Mark has a 52-week low of $17.10 and a 52-week high of $34.79.
Core-Mark (NASDAQ:CORE) last announced its earnings results on Tuesday, August 7th. The business services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.14 billion. Core-Mark had a net margin of 0.19% and a return on equity of 8.47%. equities analysts anticipate that Core-Mark will post 1.19 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Loop Capital set a $32.00 target price on shares of Core-Mark and gave the company a “buy” rating in a research note on Thursday, July 5th. ValuEngine raised shares of Core-Mark from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. BMO Capital Markets set a $30.00 target price on shares of Core-Mark and gave the company a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded shares of Core-Mark from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $31.50.
In other news, VP Christopher Hobson bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were bought at an average cost of $18.80 per share, with a total value of $47,000.00. Following the completion of the purchase, the vice president now directly owns 61,167 shares in the company, valued at $1,149,939.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary F. Colter bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was purchased at an average cost of $18.34 per share, for a total transaction of $91,700.00. Following the completion of the purchase, the director now owns 119,473 shares of the company’s stock, valued at $2,191,134.82. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,430 shares of company stock worth $178,477. 2.00% of the stock is owned by insiders.
Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.
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