River & Mercantile Asset Management LLP lifted its position in McKesson Co. (NYSE:MCK) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,314 shares of the company’s stock after buying an additional 9,421 shares during the quarter. McKesson makes up approximately 1.0% of River & Mercantile Asset Management LLP’s portfolio, making the stock its 17th biggest holding. River & Mercantile Asset Management LLP’s holdings in McKesson were worth $11,185,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in MCK. Fort L.P. purchased a new stake in shares of McKesson in the second quarter worth about $110,000. Flagship Harbor Advisors LLC purchased a new stake in shares of McKesson in the second quarter worth about $118,000. Reilly Financial Advisors LLC lifted its holdings in shares of McKesson by 506.8% in the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after buying an additional 750 shares in the last quarter. Bray Capital Advisors purchased a new stake in shares of McKesson in the third quarter worth about $123,000. Finally, FNY Investment Advisers LLC raised its stake in McKesson by 88.6% in the third quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after purchasing an additional 526 shares in the last quarter. 85.46% of the stock is currently owned by hedge funds and other institutional investors.
NYSE MCK traded up $1.04 on Friday, reaching $127.44. 10,993 shares of the company’s stock traded hands, compared to its average volume of 1,478,494. McKesson Co. has a 12 month low of $117.19 and a 12 month high of $178.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56. The stock has a market capitalization of $24.43 billion, a P/E ratio of 10.07, a PEG ratio of 1.42 and a beta of 1.03.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, November 30th. McKesson’s payout ratio is currently 12.36%.
MCK has been the topic of a number of recent analyst reports. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Mizuho reaffirmed a “hold” rating and issued a $133.00 target price on shares of McKesson in a research note on Sunday, August 12th. Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Morgan Stanley lowered their target price on shares of McKesson from $142.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Barclays lowered their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. McKesson has an average rating of “Hold” and a consensus target price of $147.63.
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.
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.