Analytic Investors LLC increased its position in McKesson Corp. (NYSE:MCK) by 2.8% during the third quarter, Holdings Channel reports. The fund owned 487,517 shares of the company’s stock after buying an additional 13,292 shares during the period. Analytic Investors LLC’s holdings in McKesson Corp. were worth $81,294,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of McKesson Corp. by 0.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 98,355 shares of the company’s stock worth $18,358,000 after buying an additional 300 shares during the period. HGK Asset Management Inc. acquired a new stake in shares of McKesson Corp. during the second quarter worth $12,358,000. Capital Fund Management S.A. boosted its stake in shares of McKesson Corp. by 5,986.3% in the third quarter. Capital Fund Management S.A. now owns 109,554 shares of the company’s stock worth $18,268,000 after buying an additional 107,754 shares during the period. Strs Ohio boosted its stake in shares of McKesson Corp. by 1.5% in the third quarter. Strs Ohio now owns 434,058 shares of the company’s stock worth $72,379,000 after buying an additional 6,350 shares during the period. Finally, CAM Group Holding A S boosted its stake in shares of McKesson Corp. by 2.7% in the second quarter. CAM Group Holding A S now owns 1,292,475 shares of the company’s stock worth $241,241,000 after buying an additional 33,903 shares during the period. 84.50% of the stock is owned by institutional investors.
Shares of McKesson Corp. (NYSE:MCK) opened at 149.74 on Thursday. The stock’s 50 day moving average is $144.15 and its 200 day moving average is $165.26. The company has a market capitalization of $33.85 billion, a P/E ratio of 17.95 and a beta of 1.06. McKesson Corp. has a 12 month low of $114.53 and a 12 month high of $199.43.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.05 by $0.11. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The firm earned $49.96 billion during the quarter, compared to analysts’ expectations of $24.16 billion. During the same period in the previous year, the firm earned $3.31 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that McKesson Corp. will post $12.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 29th. McKesson Corp.’s dividend payout ratio is presently 13.45%.
A number of equities research analysts have weighed in on MCK shares. Zacks Investment Research cut shares of McKesson Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Mizuho cut their price objective on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, September 26th. Robert W. Baird cut shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $200.00 to $164.00 in a report on Friday, October 28th. Leerink Swann cut shares of McKesson Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Finally, Credit Suisse Group AG cut shares of McKesson Corp. from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $150.00 to $131.00 in a report on Wednesday, November 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $179.76.
In related news, Director Susan R. Salka bought 1,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were bought at an average price of $136.35 per share, with a total value of $136,350.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Wayne A. Budd sold 723 shares of the business’s stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $145.77, for a total transaction of $105,391.71. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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