A number of other equities research analysts have also recently commented on CORE. Zacks Investment Research upgraded shares of Core-Mark from a hold rating to a buy rating and set a $42.00 target price on the stock in a research note on Tuesday, May 14th. ValuEngine upgraded shares of Core-Mark from a hold rating to a buy rating in a research note on Friday, May 10th. TheStreet upgraded shares of Core-Mark from a c+ rating to a b- rating in a research note on Thursday, March 28th. Raymond James raised their target price on shares of Core-Mark from $36.00 to $39.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, BMO Capital Markets raised their target price on shares of Core-Mark to $38.00 and gave the stock a market perform rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $37.83.
Shares of NASDAQ CORE opened at $38.99 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.79 billion, a PE ratio of 28.05, a P/E/G ratio of 3.08 and a beta of 0.76. Core-Mark has a 52-week low of $19.88 and a 52-week high of $40.38.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the firm posted $0.07 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Core-Mark will post 1.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, May 22nd. Core-Mark’s payout ratio is 31.65%.
In other news, Director Harvey L. Tepner sold 2,351 shares of Core-Mark stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $40.00, for a total transaction of $94,040.00. Following the sale, the director now owns 44,370 shares in the company, valued at $1,774,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harvey L. Tepner sold 1,000 shares of Core-Mark stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $38.25, for a total transaction of $38,250.00. Following the sale, the director now owns 48,370 shares in the company, valued at approximately $1,850,152.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,351 shares of company stock worth $242,240. 2.10% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of Core-Mark by 19.6% during the fourth quarter. Rhumbline Advisers now owns 133,077 shares of the business services provider’s stock valued at $3,094,000 after buying an additional 21,770 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of Core-Mark during the fourth quarter valued at approximately $272,000. Zions Bancorporation N.A. purchased a new position in shares of Core-Mark in the first quarter valued at $192,000. Acadian Asset Management LLC boosted its stake in Core-Mark by 97.0% during the first quarter. Acadian Asset Management LLC now owns 345,423 shares of the business services provider’s stock worth $12,825,000 after buying an additional 170,078 shares during the period. Finally, Comerica Bank boosted its stake in Core-Mark by 11.6% during the fourth quarter. Comerica Bank now owns 434,592 shares of the business services provider’s stock worth $12,234,000 after buying an additional 45,182 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.
Core-Mark Company Profile
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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