Morningstar Investment Services LLC grew its holdings in McKesson Corporation (NYSE:MCK) by 8.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,700 shares of the company’s stock after purchasing an additional 20,864 shares during the quarter. Morningstar Investment Services LLC owned about 0.12% of McKesson Corporation worth $39,124,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Security National Bank of SO Dak lifted its stake in McKesson Corporation by 29.9% in the 1st quarter. Security National Bank of SO Dak now owns 5,296 shares of the company’s stock worth $785,000 after purchasing an additional 1,218 shares in the last quarter. Oak Associates Ltd. OH lifted its stake in McKesson Corporation by 40.6% in the 1st quarter. Oak Associates Ltd. OH now owns 36,350 shares of the company’s stock worth $5,389,000 after purchasing an additional 10,500 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in McKesson Corporation by 52.5% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,015 shares of the company’s stock worth $1,040,000 after purchasing an additional 2,415 shares in the last quarter. Colony Group LLC purchased a new position in McKesson Corporation in the 1st quarter worth approximately $2,147,000. Finally, Altavista Wealth Management Inc. lifted its stake in McKesson Corporation by 21.2% in the 1st quarter. Altavista Wealth Management Inc. now owns 18,820 shares of the company’s stock worth $2,790,000 after purchasing an additional 3,297 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on MCK. BidaskClub lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Thursday, July 27th. Mizuho set a $168.00 price target on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird upgraded shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $175.00 to $178.00 in a report on Tuesday, September 19th. Finally, Needham & Company LLC set a $179.00 price target on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $174.27.
In related news, CEO John H. Hammergren sold 99,000 shares of McKesson Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares in the company, valued at approximately $25,391,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The disclosure for this sale can be found here. Insiders sold a total of 949,900 shares of company stock valued at $145,403,445 in the last quarter. 1.20% of the stock is owned by insiders.
McKesson Corporation (NYSE:MCK) traded up $2.93 during trading on Thursday, reaching $145.80. 2,220,503 shares of the company traded hands, compared to its average volume of 1,863,769. McKesson Corporation has a 12-month low of $133.82 and a 12-month high of $169.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. The firm has a market cap of $29,784.75, a P/E ratio of 11.75, a PEG ratio of 1.47 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The firm had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter last year, the firm earned $2.94 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts predict that McKesson Corporation will post 12.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
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About McKesson Corporation
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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