Commerce Bank reduced its position in shares of McKesson Co. (NYSE:MCK) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,695 shares of the company’s stock after selling 1,413 shares during the period. Commerce Bank’s holdings in McKesson were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Fort L.P. bought a new stake in shares of McKesson during the second quarter worth about $110,000. James Hambro & Partners grew its holdings in shares of McKesson by 141.6% during the second quarter. James Hambro & Partners now owns 877 shares of the company’s stock worth $117,000 after purchasing an additional 514 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of McKesson during the second quarter worth about $118,000. Reilly Financial Advisors LLC grew its holdings in shares of McKesson by 506.8% during the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after purchasing an additional 750 shares during the last quarter. Finally, Bray Capital Advisors bought a new stake in shares of McKesson during the third quarter worth about $123,000. Institutional investors own 89.19% of the company’s stock.
In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.87% of the stock is owned by insiders.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. Equities analysts predict that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.
Several analysts have recently weighed in on the company. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, October 29th. Barclays reduced their price target on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. Royal Bank of Canada set a $155.00 price target on McKesson and gave the stock a “hold” rating in a report on Friday, October 26th. Mizuho restated a “hold” rating and set a $133.00 price target on shares of McKesson in a report on Sunday, August 12th. Finally, JPMorgan Chase & Co. reduced their price target on McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. McKesson currently has a consensus rating of “Hold” and a consensus price target of $150.26.
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McKesson Company Profile
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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