Lazard Asset Management LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 404,682 shares of the company’s stock after buying an additional 54,175 shares during the period. Lazard Asset Management LLC’s holdings in McKesson were worth $47,371,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in McKesson by 59.6% during the fourth quarter. D.A. Davidson & CO. now owns 2,444 shares of the company’s stock valued at $270,000 after acquiring an additional 913 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in McKesson by 11.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 2,711 shares of the company’s stock valued at $299,000 after acquiring an additional 279 shares in the last quarter. Dupont Capital Management Corp raised its position in McKesson by 429.7% during the fourth quarter. Dupont Capital Management Corp now owns 11,204 shares of the company’s stock valued at $1,238,000 after acquiring an additional 9,089 shares in the last quarter. Financial Gravity Companies Inc. purchased a new position in McKesson during the fourth quarter valued at approximately $57,000. Finally, Capital Investment Advisory Services LLC purchased a new position in McKesson during the fourth quarter valued at approximately $73,000. 87.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on MCK shares. Zacks Investment Research upgraded McKesson from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Wolfe Research started coverage on McKesson in a research report on Tuesday, April 2nd. They set an “outperform” rating for the company. Finally, ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $132.39.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.66 by $0.03. The firm had revenue of $52.43 billion for the quarter, compared to analyst estimates of $53.14 billion. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 earnings per share. As a group, analysts expect that McKesson Co. will post 14.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.50%.
In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $133.59, for a total transaction of $369,509.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian Scott Tyler sold 1,488 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $125.49, for a total value of $186,729.12. Following the transaction, the chief executive officer now directly owns 12,192 shares in the company, valued at approximately $1,529,974.08. The disclosure for this sale can be found here. Insiders sold 6,174 shares of company stock worth $804,583 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.
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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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