Deutsche Bank AG Reduces Position in Core-Mark Holding Company, Inc. (CORE)

Deutsche Bank AG trimmed its holdings in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 49.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,348 shares of the business services provider’s stock after selling 150,164 shares during the period. Deutsche Bank AG owned about 0.34% of Core-Mark worth $3,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. acquired a new position in shares of Core-Mark in the 4th quarter valued at $3,613,000. Geode Capital Management LLC boosted its holdings in shares of Core-Mark by 9.3% in the 4th quarter. Geode Capital Management LLC now owns 680,867 shares of the business services provider’s stock valued at $15,829,000 after purchasing an additional 57,703 shares during the last quarter. Norges Bank acquired a new position in shares of Core-Mark in the 4th quarter valued at $6,379,000. BW Gestao de Investimentos Ltda. boosted its holdings in shares of Core-Mark by 3.5% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 20,642 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 696 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Core-Mark in the 4th quarter valued at $61,000. 94.96% of the stock is owned by institutional investors and hedge funds.

CORE has been the topic of several recent research reports. BidaskClub lowered shares of Core-Mark from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. Zacks Investment Research upgraded shares of Core-Mark from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, May 14th. Raymond James lifted their target price on shares of Core-Mark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, March 4th. ValuEngine upgraded shares of Core-Mark from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, TheStreet upgraded shares of Core-Mark from a “c+” rating to a “b-” rating in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.83.

In related news, SVP William Stein sold 7,500 shares of Core-Mark stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $38.27, for a total transaction of $287,025.00. Following the sale, the senior vice president now owns 94,301 shares of the company’s stock, valued at approximately $3,608,899.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher M. Miller sold 2,500 shares of Core-Mark stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.57, for a total transaction of $93,925.00. Following the sale, the chief financial officer now directly owns 33,570 shares in the company, valued at approximately $1,261,224.90. The disclosure for this sale can be found here. Insiders have sold a total of 24,901 shares of company stock worth $948,090 in the last ninety days. 2.10% of the stock is currently owned by insiders.

Shares of NASDAQ:CORE traded down $0.15 during midday trading on Wednesday, hitting $38.41. 121,234 shares of the company’s stock traded hands, compared to its average volume of 313,380. Core-Mark Holding Company, Inc. has a twelve month low of $18.13 and a twelve month high of $40.38. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 3.03 and a beta of 0.82. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Core-Mark Holding Company, Inc. will post 1.58 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.15%. The ex-dividend date is Wednesday, May 22nd. Core-Mark’s dividend payout ratio (DPR) is 31.65%.

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Core-Mark Profile

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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Institutional Ownership by Quarter for Core-Mark (NASDAQ:CORE)

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