Choate Investment Advisors lowered its position in shares of McKesson Co. (NYSE:MCK) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,988 shares of the company’s stock after selling 103 shares during the period. Choate Investment Advisors’ holdings in McKesson were worth $350,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth about $215,791,000. Standard Life Aberdeen plc grew its stake in shares of McKesson by 16.7% during the fourth quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock worth $32,039,000 after acquiring an additional 41,289 shares during the last quarter. Northern Trust Corp grew its stake in shares of McKesson by 1.3% during the fourth quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock worth $261,783,000 after acquiring an additional 30,134 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of McKesson by 7.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock worth $316,000 after acquiring an additional 200 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of McKesson by 2.3% during the fourth quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock worth $1,742,522,000 after acquiring an additional 358,982 shares during the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.
MCK has been the subject of a number of research reports. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Wolfe Research initiated coverage on McKesson in a report on Tuesday, April 2nd. They set an “outperform” rating for the company. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a report on Friday, January 25th. Finally, Barclays reaffirmed a “hold” rating and set a $130.00 target price on shares of McKesson in a report on Friday, February 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $134.90.
In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $133.59, for a total transaction of $369,509.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.87% of the company’s stock.
Shares of NYSE:MCK traded up $1.30 during midday trading on Wednesday, reaching $129.63. The company’s stock had a trading volume of 1,198,519 shares, compared to its average volume of 1,539,424. The company has a market cap of $24.47 billion, a P/E ratio of 9.55, a P/E/G ratio of 1.26 and a beta of 1.23. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $151.24.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.66 by $0.03. The firm had revenue of $52.43 billion during the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.49 earnings per share. Sell-side analysts expect that McKesson Co. will post 14.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.50%.
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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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