BlackRock Inc. grew its stake in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,093,491 shares of the business services provider’s stock after acquiring an additional 323,930 shares during the quarter. BlackRock Inc. owned about 15.71% of Core-Mark worth $274,448,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of CORE. First Trust Advisors LP increased its stake in shares of Core-Mark by 153.5% during the 1st quarter. First Trust Advisors LP now owns 33,275 shares of the business services provider’s stock valued at $1,236,000 after acquiring an additional 20,147 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Core-Mark by 10.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 73,446 shares of the business services provider’s stock valued at $2,157,000 after acquiring an additional 6,829 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Core-Mark during the 4th quarter valued at about $690,000. SG Americas Securities LLC acquired a new position in shares of Core-Mark during the 4th quarter valued at about $248,000. Finally, Principal Financial Group Inc. increased its stake in shares of Core-Mark by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 339,166 shares of the business services provider’s stock valued at $9,961,000 after acquiring an additional 6,691 shares during the last quarter. 90.99% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Core-Mark from a “buy” rating to a “hold” rating in a research report on Wednesday, June 2nd. Raymond James increased their target price on shares of Core-Mark from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Finally, BMO Capital Markets increased their target price on shares of Core-Mark from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, May 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.50.
Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Thursday, May 6th. The business services provider reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.11. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Core-Mark had a return on equity of 14.89% and a net margin of 0.40%. Core-Mark’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. Equities analysts anticipate that Core-Mark Holding Company, Inc. will post 2.12 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, May 21st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Thursday, May 20th. Core-Mark’s dividend payout ratio is presently 27.51%.
Core-Mark Holding Company, Inc distributes packaged consumer products to the convenience retail industry. The company sells and distributes food products, including candies, snacks, groceries, and beverages; 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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