Iridian Asset Managementct Lowers stake in CST Brands Inc (CST)

CST Brands Inc (CST) : Iridian Asset Managementct reduced its stake in CST Brands Inc by 6.27% during the most recent quarter end. The investment management company now holds a total of 7,046,277 shares of CST Brands Inc which is valued at $309,190,635 after selling 471,435 shares in CST Brands Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.CST Brands Inc makes up approximately 2.74% of Iridian Asset Managementct’s portfolio.

Other Hedge Funds, Including , State Board Of Administration Of Florida Retirement System boosted its stake in CST in the latest quarter, The investment management firm added 16,031 additional shares and now holds a total of 117,125 shares of CST Brands Inc which is valued at $5,161,699. CST Brands Inc makes up approx 0.02% of State Board Of Administration Of Florida Retirement System’s portfolio.World Asset Management Inc reduced its stake in CST by selling 141 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 5,122 shares of CST which is valued at $227,161. CST Brands Inc makes up approx 0.01% of World Asset Management Inc’s portfolio.Cutler Group Lp reduced its stake in CST by selling 2,312 shares or 18.12% in the most recent quarter. The Hedge Fund company now holds 10,447 shares of CST which is valued at $461,966. CST Brands Inc makes up approx 0.03% of Cutler Group Lp’s portfolio.

CST Brands Inc opened for trading at $47.38 and hit $47.79 on the upside on Wednesday, eventually ending the session at $47.51, with a gain of 0.85% or 0.4 points. The heightened volatility saw the trading volume jump to 13,27,929 shares. Company has a market cap of $3,596 M.

On the company’s financial health, CST Brands Inc reported $0.39 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Aug 5, 2016. Analyst had a consensus of $0.45. The company had revenue of $2518.00 million for the quarter, compared to analysts expectations of $2540.02 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on CST Brands Inc. CST Brands Inc was Downgraded by Raymond James to ” Mkt Perform” on Jul 25, 2016.

CST Brands Inc. (CST) is a holding company. The Company is an independent retail and wholesale distributors of motor fuel and convenience merchandise and services in North America. Its retail operations include the sale of motor fuel at convenience stores commission agents and cardlocks; the sale of convenience merchandise items and services at convenience stores and the sale of heating oil to residential customers and heating oil and motor fuel to small commercial customers. The Company operates in three segments: U.S. Retail which is the Company owned and operated convenience store businesses; Canadian Retail which includes company owned and operated convenience stores commission agents cardlocks and heating oil operations located in Canada and CrossAmerica which distributes motor fuel to lessee dealers independent dealers affiliated dealers CST’s U.S. Retail Segment and sub-wholesalers retail commission agents and non-core Company operated convenience stores.

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