Trexquant Investment LP bought a new position in shares of McKesson Corporation (NYSE:MCK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,147 shares of the company’s stock, valued at approximately $330,000.
Other hedge funds have also bought and sold shares of the company. Ingalls & Snyder LLC raised its stake in shares of McKesson by 76.7% in the 3rd quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock valued at $2,602,000 after purchasing an additional 7,352 shares during the period. Whittier Trust Co. raised its stake in shares of McKesson by 1.5% in the 3rd quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after purchasing an additional 898 shares during the period. Wells Fargo & Company MN raised its stake in shares of McKesson by 12.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after purchasing an additional 239,358 shares during the period. River & Mercantile Asset Management LLP raised its stake in shares of McKesson by 278.6% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after purchasing an additional 130,852 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its stake in shares of McKesson by 194.3% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after purchasing an additional 19,450 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.
Several research firms have issued reports on MCK. Royal Bank Of Canada began coverage on McKesson in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price target on the stock. Jefferies Group set a $165.00 price target on McKesson and gave the company a “hold” rating in a research note on Wednesday, October 18th. Cowen raised McKesson from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $176.00 to $189.00 in a research note on Tuesday, October 10th. Needham & Company LLC set a $179.00 price target on McKesson and gave the company a “buy” rating in a research note on Monday, October 16th. Finally, BidaskClub downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $174.31.
McKesson (NYSE:MCK) last released its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 had a return on equity of 24.87% and a net margin of 2.24%. McKesson’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.94 earnings per share. research analysts anticipate that McKesson Corporation will post 12.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 6.45%.
In other McKesson news, Chairman John H. Hammergren sold 225,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $151.67, for a total transaction of $34,125,750.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 949,900 shares of company stock worth $145,403,445. Company insiders own 1.20% of the company’s stock.
McKesson Company 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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