Stevens Capital Management LP bought a new stake in Core-Mark Holding Company, Inc. (NASDAQ:CORE) during the 1st quarter, HoldingsChannel.com reports. The fund bought 8,411 shares of the business services provider’s stock, valued at approximately $312,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Texas Permanent School Fund raised its holdings in Core-Mark by 4.1% during the 1st quarter. Texas Permanent School Fund now owns 31,145 shares of the business services provider’s stock worth $1,156,000 after buying an additional 1,237 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Core-Mark during the 1st quarter worth approximately $6,868,000. Rhumbline Advisers raised its holdings in Core-Mark by 2.4% during the 1st quarter. Rhumbline Advisers now owns 136,213 shares of the business services provider’s stock worth $5,058,000 after buying an additional 3,136 shares during the period. Convergence Investment Partners LLC acquired a new stake in Core-Mark during the 1st quarter worth approximately $2,107,000. Finally, Quantamental Technologies LLC acquired a new stake in Core-Mark during the 1st quarter worth approximately $165,000. 94.96% of the stock is currently owned by institutional investors.
In related news, Director Harvey L. Tepner sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $38.25, for a total value of $38,250.00. Following the completion of the transaction, the director now directly owns 48,370 shares of the company’s stock, valued at $1,850,152.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Harvey L. Tepner sold 2,351 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 44,370 shares of the company’s stock, valued at $1,774,800. The disclosure for this sale can be found here. Insiders sold 24,901 shares of company stock valued at $948,090 over the last three months. 2.10% of the stock is owned by company insiders.
Core-Mark (NASDAQ:CORE) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.06. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that Core-Mark Holding Company, Inc. will post 1.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 23rd will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.44 annualized dividend and a dividend yield of 1.15%. Core-Mark’s dividend payout ratio is presently 31.65%.
A number of analysts have recently issued reports on the stock. ValuEngine upgraded shares of Core-Mark from a “hold” rating to a “buy” rating in a report on Friday, May 10th. BMO Capital Markets lifted their price objective on shares of Core-Mark to $38.00 and gave the company a “market perform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Core-Mark from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a report on Tuesday, March 5th. BidaskClub upgraded shares of Core-Mark from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 7th. Finally, TheStreet upgraded shares of Core-Mark from a “c+” rating to a “b-” rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Core-Mark has an average rating of “Buy” and an average target price 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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