Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of McKesson Co. (NYSE:MCK) by 0.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 104,341 shares of the company’s stock after purchasing an additional 616 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson were worth $13,919,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Boston Partners grew its stake in McKesson by 122.4% in the first quarter. Boston Partners now owns 4,036,373 shares of the company’s stock valued at $568,604,000 after purchasing an additional 2,221,241 shares in the last quarter. Swedbank purchased a new position in McKesson in the first quarter valued at about $86,764,000. Unigestion Holding SA purchased a new position in McKesson in the second quarter valued at about $35,787,000. Natixis grew its stake in McKesson by 478.0% in the first quarter. Natixis now owns 303,831 shares of the company’s stock valued at $42,801,000 after purchasing an additional 251,267 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in McKesson by 91.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 501,791 shares of the company’s stock valued at $70,688,000 after purchasing an additional 240,357 shares in the last quarter. Institutional investors and hedge funds own 90.91% of the company’s stock.
A number of research analysts have commented on MCK shares. Morgan Stanley lowered their target price on McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Citigroup lowered their target price on McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a research note on Friday, July 20th. Standpoint Research upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Jefferies Financial Group restated a “buy” rating and issued a $160.00 target price on shares of McKesson in a research note on Friday, July 27th. Finally, Robert W. Baird downgraded McKesson from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $157.18.
MCK opened at $123.14 on Friday. The stock has a market cap of $24.75 billion, a PE ratio of 9.47, a P/E/G ratio of 1.31 and a beta of 1.22. McKesson Co. has a 52-week low of $122.63 and a 52-week high of $178.86. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.01. The company had revenue of $52.61 billion during the quarter, compared to the consensus estimate of $52.91 billion. McKesson had a positive return on equity of 25.19% and a negative net margin of 0.18%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.47 EPS. equities research analysts forecast that McKesson Co. will post 13.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.27%. This is an increase from McKesson’s previous quarterly dividend of $0.34. McKesson’s dividend payout ratio is 10.78%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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