Russell Investments Group Ltd. raised its position in shares of McKesson Corporation (NYSE:MCK) by 12.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 236,564 shares of the company’s stock after purchasing an additional 26,894 shares during the quarter. Russell Investments Group Ltd. owned 0.11% of McKesson Corporation worth $36,337,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new stake in McKesson Corporation during the 1st quarter valued at about $100,000. Captrust Financial Advisors purchased a new stake in shares of McKesson Corporation during the 2nd quarter valued at about $107,000. Archford Capital Strategies LLC boosted its holdings in shares of McKesson Corporation by 52.8% during the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after acquiring an additional 268 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of McKesson Corporation during the 2nd quarter valued at about $125,000. Finally, Tompkins Financial Corp boosted its holdings in shares of McKesson Corporation by 2.3% during the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
In other news, Chairman John H. Hammergren sold 225,000 shares of McKesson Corporation stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 949,900 shares of company stock worth $145,403,445. Company insiders own 1.20% of the company’s stock.
MCK has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Mizuho set a $168.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. TheStreet downgraded shares of McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, ValuEngine raised shares of McKesson Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $174.27.
Shares of McKesson Corporation (MCK) traded down $3.89 during trading hours on Tuesday, reaching $138.24. 3,618,200 shares of the company’s stock traded hands, compared to its average volume of 1,860,112. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Corporation has a twelve month low of $133.82 and a twelve month high of $169.29. The stock has a market capitalization of $29,630.00, a P/E ratio of 11.69, a P/E/G ratio of 1.46 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.94 earnings per share. research analysts expect that McKesson Corporation will post 12.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, November 30th. McKesson Corporation’s payout ratio is currently 6.44%.
McKesson Corporation Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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