California Public Employees Retirement System increased its position in shares of Core-Mark Holding Co. (NASDAQ:CORE) by 85.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,800 shares of the company’s stock after buying an additional 23,400 shares during the period. California Public Employees Retirement System owned about 0.11% of Core-Mark Holding worth $2,380,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Falcon Point Capital LLC raised its stake in shares of Core-Mark Holding by 92.9% in the second quarter. Falcon Point Capital LLC now owns 226,932 shares of the company’s stock worth $10,634,000 after buying an additional 109,295 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Core-Mark Holding during the first quarter valued at approximately $2,665,000. Nisa Investment Advisors LLC raised its stake in Core-Mark Holding by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 13,600 shares of the company’s stock valued at $637,000 after buying an additional 6,800 shares during the period. Eagle Asset Management Inc. bought a new stake in Core-Mark Holding during the second quarter valued at approximately $2,955,000. Finally, Aperio Group LLC raised its stake in Core-Mark Holding by 36.7% in the first quarter. Aperio Group LLC now owns 3,647 shares of the company’s stock valued at $297,000 after buying an additional 980 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.
Shares of Core-Mark Holding Co. (NASDAQ:CORE) traded down 2.85% on Friday, reaching $35.80. 770,587 shares of the company traded hands. Core-Mark Holding Co. has a 1-year low of $32.10 and a 1-year high of $50.00. The company has a 50-day moving average of $39.14 and a 200-day moving average of $42.50. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 30.47 and a beta of 0.77.
Core-Mark Holding (NASDAQ:CORE) last announced its earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The firm earned $3.70 billion during the quarter, compared to analyst estimates of $3.50 billion. Core-Mark Holding had a net margin of 0.44% and a return on equity of 12.18%. Core-Mark Holding’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Analysts anticipate that Core-Mark Holding Co. will post $1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. Core-Mark Holding’s payout ratio is currently 27.35%.
Several equities research analysts have recently commented on the company. Jefferies Group lowered Core-Mark Holding from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Friday. Zacks Investment Research lowered Core-Mark Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Raymond James Financial Inc. reduced their price objective on Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, August 30th. Finally, Stephens restated a “buy” rating on shares of Core-Mark Holding in a research note on Monday, June 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $60.20.
In other news, SVP Scott E. Mcpherson sold 4,522 shares of Core-Mark Holding stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total transaction of $204,484.84. Following the completion of the sale, the senior vice president now directly owns 155,244 shares in the company, valued at $7,020,133.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott E. Mcpherson sold 5,478 shares of Core-Mark Holding stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $45.07, for a total transaction of $246,893.46. Following the sale, the senior vice president now owns 155,244 shares of the company’s stock, valued at $6,996,847.08. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
Core-Mark Holding Company Profile
Core-Mark Holding Company, Inc is a wholesale distributor to the convenience retail industry in North America. The Company provides sales, marketing, distribution and logistics services to over 36,500 customer locations across the United States and Canada through over 30 distribution centers. The Company’s segments include the United States, Canada and Corporate.
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