Patriot Financial Group Insurance Agency LLC purchased a new position in McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,000 shares of the company’s stock, valued at approximately $117,000.
A number of other hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in McKesson in the 4th quarter worth about $215,791,000. Standard Life Aberdeen plc increased its holdings in McKesson by 16.7% in the 4th quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock worth $32,039,000 after buying an additional 41,289 shares in the last quarter. Northern Trust Corp increased its holdings in McKesson by 1.3% in the 4th quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock worth $261,783,000 after buying an additional 30,134 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings in McKesson by 7.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock worth $316,000 after buying an additional 200 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in McKesson by 2.3% in the 4th quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock worth $1,742,522,000 after buying an additional 358,982 shares in the last quarter. 85.88% of the stock is owned by institutional investors.
Several research firms recently commented on MCK. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Wolfe Research began coverage on McKesson in a research note on Tuesday, April 2nd. They set an “outperform” rating for the company. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Barclays restated a “hold” rating and set a $130.00 price target on shares of McKesson in a research note on Friday, February 1st. Finally, Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research note on Friday, January 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $134.90.
NYSE MCK traded up $0.83 during trading hours on Friday, reaching $129.92. The company’s stock had a trading volume of 952,367 shares, compared to its average volume of 1,538,221. The company has a current ratio of 1.02, a quick ratio of 0.58 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. The stock has a market cap of $24.38 billion, a PE ratio of 9.57, a P/E/G ratio of 1.29 and a beta of 1.23.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 EPS for the quarter, topping the Zacks’ consensus estimate of $3.66 by $0.03. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The company had revenue of $52.43 billion for the quarter, compared to analysts’ expectations of $53.14 billion. During the same period in the previous year, the firm earned $3.49 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 14.15 EPS for the current fiscal year.
The company 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is 11.50%.
In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total value of $369,509.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.
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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