Systematic Financial Management LP cut its holdings in Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,270 shares of the business services provider’s stock after selling 6,270 shares during the quarter. Systematic Financial Management LP’s holdings in Core-Mark were worth $1,532,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Core-Mark by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,066,227 shares of the business services provider’s stock valued at $164,291,000 after buying an additional 115,677 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Core-Mark by 8.2% in the third quarter. Vanguard Group Inc. now owns 4,518,138 shares of the business services provider’s stock valued at $153,437,000 after buying an additional 341,935 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Core-Mark by 53.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,048,278 shares of the business services provider’s stock valued at $47,622,000 after buying an additional 713,353 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Core-Mark by 8.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,102,584 shares of the business services provider’s stock worth $25,635,000 after purchasing an additional 81,229 shares during the period. Finally, Macquarie Group Ltd. increased its position in Core-Mark by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,065,366 shares of the business services provider’s stock worth $24,770,000 after purchasing an additional 18,000 shares during the period. Institutional investors own 94.96% of the company’s stock.
In other Core-Mark news, Director Harvey L. Tepner sold 2,351 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $40.00, for a total transaction of $94,040.00. Following the transaction, the director now owns 44,370 shares in the company, valued at $1,774,800. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Mathew J. Tachouet sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $36.65, for a total value of $109,950.00. Following the transaction, the chief accounting officer now owns 5,836 shares in the company, valued at approximately $213,889.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,901 shares of company stock worth $948,090. Company insiders own 2.10% of the company’s stock.
Shares of CORE stock opened at $38.11 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.61 and a quick ratio of 0.86. The stock has a market capitalization of $1.72 billion, a P/E ratio of 27.42, a PEG ratio of 2.98 and a beta of 0.82. Core-Mark Holding Company, Inc. has a 12 month low of $18.13 and a 12 month high of $40.38.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.06. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.84 billion. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Equities analysts anticipate that Core-Mark Holding Company, Inc. will post 1.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, May 22nd. Core-Mark’s dividend payout ratio (DPR) is currently 31.65%.
A number of analysts recently commented on the company. ValuEngine upgraded Core-Mark from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. BMO Capital Markets lifted their price objective on Core-Mark to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Core-Mark from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research report on Tuesday, March 5th. BidaskClub upgraded Core-Mark from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 7th. Finally, TheStreet upgraded Core-Mark from a “c+” rating to a “b-” rating in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $37.83.
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Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.
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