Zacks Investment Research downgraded shares of Core-Mark (NASDAQ:CORE) from a strong-buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark offers a full range of products, marketing programs, and technology solutions. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. “
CORE has been the subject of several other reports. BidaskClub lowered Core-Mark from a strong-buy rating to a buy rating in a report on Tuesday, September 18th. ValuEngine upgraded Core-Mark from a strong sell rating to a sell rating in a report on Friday, August 3rd. BMO Capital Markets restated a hold rating and issued a $30.00 target price (up from $21.00) on shares of Core-Mark in a report on Wednesday, August 8th. Sidoti lowered Core-Mark from a buy rating to a neutral rating in a report on Tuesday, September 11th. Finally, Stephens upgraded Core-Mark from an equal weight rating to an overweight rating and set a $35.00 target price for the company in a report on Wednesday, August 8th. Four investment 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 stock has a consensus rating of Buy and an average price target of $33.67.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.46 billion. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities analysts expect that Core-Mark will post 1.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be given a $0.11 dividend. This is an increase from Core-Mark’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, November 19th. Core-Mark’s payout ratio is currently 40.00%.
In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of Core-Mark stock in a transaction that occurred on Thursday, November 8th. The stock was 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 document filed with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CORE. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Core-Mark in the 2nd quarter worth approximately $222,000. Virginia Retirement Systems ET AL bought a new position in Core-Mark in the 3rd quarter worth approximately $224,000. Howard Capital Management bought a new position in Core-Mark in the 3rd quarter worth approximately $280,000. Skylands Capital LLC increased its position in Core-Mark by 941.7% in the 2nd quarter. Skylands Capital LLC now owns 12,500 shares of the business services provider’s stock worth $284,000 after buying an additional 11,300 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Core-Mark in the 2nd quarter worth approximately $286,000. 93.91% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Core-Mark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core-Mark and related companies with MarketBeat.com's FREE daily email newsletter.