Core-Mark Holding Company, Inc. (CORE) Stake Raised by Bank of America Corp DE

Bank of America Corp DE lifted its position in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 19.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,394 shares of the business services provider’s stock after acquiring an additional 16,623 shares during the quarter. Bank of America Corp DE owned 0.22% of Core-Mark worth $2,279,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Core-Mark during the 2nd quarter worth about $222,000. Skylands Capital LLC boosted its stake in shares of Core-Mark by 941.7% during the 2nd quarter. Skylands Capital LLC now owns 12,500 shares of the business services provider’s stock worth $284,000 after acquiring an additional 11,300 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Core-Mark during the 2nd quarter worth about $286,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Core-Mark during the 2nd quarter worth about $382,000. Finally, Trexquant Investment LP purchased a new stake in shares of Core-Mark during the 2nd quarter worth about $408,000. 93.91% of the stock is currently owned by institutional investors and hedge funds.

Shares of Core-Mark stock opened at $30.54 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.82 and a beta of 0.57. Core-Mark Holding Company, Inc. has a twelve month low of $17.10 and a twelve month high of $40.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.14 and a current ratio of 1.92.

Core-Mark (NASDAQ:CORE) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.17. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.46 billion. Core-Mark had a net margin of 0.27% and a return on equity of 11.66%. Core-Mark’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. Sell-side analysts forecast that Core-Mark Holding Company, Inc. will post 1.28 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, November 19th. This is a positive change from Core-Mark’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 1.44%. Core-Mark’s dividend payout ratio (DPR) is currently 40.00%.

In related news, VP Christopher Hobson sold 5,812 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $30.73, for a total value of $178,602.76. Following the transaction, the vice president now directly owns 55,355 shares of the company’s stock, valued at approximately $1,701,059.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

Several equities research analysts have recently issued reports on CORE shares. ValuEngine raised shares of Core-Mark from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Core-Mark from a “sell” rating to a “hold” rating in a research note on Monday, August 6th. Stephens raised shares of Core-Mark from an “equal weight” rating to an “overweight” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $30.00 price target (up from $21.00) on shares of Core-Mark in a research note on Wednesday, August 8th. Finally, BidaskClub raised shares of Core-Mark from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.67.

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About Core-Mark

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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Institutional Ownership by Quarter for Core-Mark (NASDAQ:CORE)

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