Copeland Capital Management LLC Increases Stake in Core-Mark Holding Company, Inc. (NASDAQ:CORE)

Copeland Capital Management LLC grew its holdings in shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) by 20.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 779,785 shares of the business services provider’s stock after acquiring an additional 131,978 shares during the quarter. Core-Mark accounts for approximately 1.7% of Copeland Capital Management LLC’s holdings, making the stock its 19th biggest holding. Copeland Capital Management LLC owned approximately 1.70% of Core-Mark worth $30,974,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CORE. Bessemer Group Inc. boosted its holdings in shares of Core-Mark by 170.0% during the 2nd quarter. Bessemer Group Inc. now owns 72,100 shares of the business services provider’s stock valued at $2,864,000 after buying an additional 45,400 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in shares of Core-Mark during the 1st quarter valued at $192,000. Acadian Asset Management LLC boosted its holdings in shares of Core-Mark by 97.0% during the 1st quarter. Acadian Asset Management LLC now owns 345,423 shares of the business services provider’s stock valued at $12,825,000 after buying an additional 170,078 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Core-Mark during the 1st quarter valued at $2,342,000. Finally, Macquarie Group Ltd. boosted its holdings in shares of Core-Mark by 1.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,065,366 shares of the business services provider’s stock valued at $24,770,000 after buying an additional 18,000 shares in the last quarter. 92.76% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. BidaskClub lowered Core-Mark from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered Core-Mark from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered Core-Mark from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.40.

NASDAQ:CORE traded up $1.01 during mid-day trading on Friday, reaching $33.42. The company’s stock had a trading volume of 143,100 shares, compared to its average volume of 243,369. Core-Mark Holding Company, Inc. has a 12-month low of $22.53 and a 12-month high of $40.95. The firm’s fifty day moving average price is $37.39 and its two-hundred day moving average price is $36.21. The company has a current ratio of 1.78, a quick ratio of 1.00 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1.49 billion, a P/E ratio of 24.04, a PEG ratio of 2.54 and a beta of 0.76.

Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.31 billion. Core-Mark had a return on equity of 13.11% and a net margin of 0.33%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Analysts predict that Core-Mark Holding Company, Inc. will post 1.6 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.32%. Core-Mark’s dividend payout ratio is currently 31.65%.

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.

Further Reading: What is the Quick Ratio?

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

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