Alps Advisors Inc. increased its position in shares of McKesson Corporation (NYSE:MCK) by 18.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,321 shares of the company’s stock after buying an additional 830 shares during the period. Alps Advisors Inc.’s holdings in McKesson Corporation were worth $817,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MCK. BlackRock Inc. increased its stake in shares of McKesson Corporation by 2,026.2% during the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the period. Ballentine Partners LLC purchased a new position in shares of McKesson Corporation during the first quarter valued at $191,000. Harbour Capital Advisors LLC increased its stake in shares of McKesson Corporation by 15,915.0% during the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after buying an additional 1,013,942 shares during the period. Renaissance Technologies LLC purchased a new position in shares of McKesson Corporation during the second quarter valued at $164,688,000. Finally, AJO LP increased its stake in shares of McKesson Corporation by 742.4% during the second quarter. AJO LP now owns 647,052 shares of the company’s stock valued at $106,466,000 after buying an additional 570,243 shares during the period. Hedge funds and other institutional investors own 85.93% of the company’s stock.
Several brokerages have recently commented on MCK. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research note on Monday, July 17th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Jefferies Group LLC set a $165.00 target price on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, August 29th. Mizuho set a $168.00 target price on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Needham & Company LLC set a $179.00 target price on McKesson Corporation and gave the company a “buy” rating in a research note on Monday, October 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $174.27.
McKesson Corporation (NYSE MCK) opened at $138.05 on Tuesday. McKesson Corporation has a twelve month low of $133.82 and a twelve month high of $169.29. The stock has a market capitalization of $28,688.18, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The company had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same period in the previous year, the company posted $2.94 earnings per share. McKesson Corporation’s revenue for the quarter was up 4.2% on a year-over-year basis. equities research analysts predict that McKesson Corporation will post 12.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
In other news, Chairman John H. Hammergren sold 225,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,329,150. The disclosure for this sale can be found here. Insiders sold 950,983 shares of company stock valued at $145,560,946 over the last 90 days. Company insiders own 1.20% of the company’s stock.
McKesson Corporation 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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