State of Tennessee Treasury Department decreased its position in Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 9.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,830 shares of the business services provider’s stock after selling 4,010 shares during the period. State of Tennessee Treasury Department’s holdings in Core-Mark were worth $1,163,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CORE. Royce & Associates LP grew its holdings in shares of Core-Mark by 36.9% in the 4th quarter. Royce & Associates LP now owns 1,101,102 shares of the business services provider’s stock valued at $34,773,000 after buying an additional 296,580 shares during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Core-Mark in the 4th quarter valued at $5,143,000. BlackRock Inc. grew its holdings in shares of Core-Mark by 2.5% in the 4th quarter. BlackRock Inc. now owns 5,810,169 shares of the business services provider’s stock valued at $183,485,000 after buying an additional 144,004 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Core-Mark by 37.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 482,842 shares of the business services provider’s stock valued at $15,518,000 after buying an additional 131,758 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Core-Mark in the 4th quarter valued at $2,696,000. 97.82% of the stock is owned by institutional investors.
CORE has been the subject of several research analyst reports. BidaskClub lowered shares of Core-Mark from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Zacks Investment Research raised shares of Core-Mark from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 2nd. William Blair started coverage on shares of Core-Mark in a report on Wednesday, January 3rd. They issued an “outperform” rating for the company. BMO Capital Markets started coverage on shares of Core-Mark in a research note on Friday, January 5th. They issued a “market perform” rating and a $33.00 target price for the company. Finally, Stephens lowered shares of Core-Mark from an “overweight” rating to an “equal weight” rating in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $28.17.
Core-Mark (NASDAQ:CORE) last announced its earnings results on Thursday, March 1st. The business services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4.09 billion. Core-Mark had a net margin of 0.21% and a return on equity of 8.84%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. analysts predict that Core-Mark Holding Company, Inc. will post 1.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, March 9th. Core-Mark’s payout ratio is presently 55.56%.
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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. As of December 31, 2016, the Company offered services to over 43,000 customer locations across the United States and Canada through 30 distribution centers.
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