BidaskClub cut shares of Core-Mark (NASDAQ:CORE) from a hold rating to a sell rating in a report issued on Friday morning.

Several other equities research analysts have also commented on CORE. Zacks Investment Research raised shares of Core-Mark from a hold rating to a buy rating and set a $38.00 price target on the stock in a report on Monday, October 30th. Jefferies Group reissued a hold rating and set a $32.00 target price on shares of Core-Mark in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $38.80.

Shares of Core-Mark (CORE) opened at $30.34 on Friday. Core-Mark has a twelve month low of $26.08 and a twelve month high of $43.94. The company has a current ratio of 2.16, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $1,420.00, a PE ratio of 34.09, a price-to-earnings-growth ratio of 2.52 and a beta of 0.95.

Core-Mark (NASDAQ:CORE) last issued its earnings results on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.29 billion. Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. equities research analysts predict that Core-Mark will post 1.19 EPS for the current year.

Core-Mark declared that its board has authorized a stock repurchase program on Monday, August 28th that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Tuesday, November 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, November 27th. This is an increase from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s dividend payout ratio is 44.94%.

Several hedge funds and other institutional investors have recently made changes to their positions in CORE. California Public Employees Retirement System lifted its position in shares of Core-Mark by 73.3% during the 3rd quarter. California Public Employees Retirement System now owns 18,193 shares of the business services provider’s stock worth $585,000 after purchasing an additional 7,693 shares during the last quarter. Zions Bancorporation acquired a new position in Core-Mark in the third quarter valued at $161,000. Royce & Associates LP increased its stake in Core-Mark by 18.4% in the third quarter. Royce & Associates LP now owns 804,522 shares of the business services provider’s stock valued at $25,857,000 after purchasing an additional 125,000 shares during the period. Pinebridge Investments L.P. boosted its holdings in shares of Core-Mark by 4.1% in the third quarter. Pinebridge Investments L.P. now owns 55,643 shares of the business services provider’s stock valued at $1,789,000 after acquiring an additional 2,167 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Core-Mark by 1.4% in the third quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock valued at $74,288,000 after acquiring an additional 31,689 shares in the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.

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Core-Mark 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. 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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