Candriam Luxembourg S.C.A. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,982 shares of the company’s stock after buying an additional 427 shares during the period. Candriam Luxembourg S.C.A.’s holdings in McKesson Corporation were worth $4,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its position in shares of McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after buying an additional 190 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of McKesson Corporation during the second quarter valued at approximately $107,000. American Beacon Advisors Inc. bought a new stake in shares of McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. raised its position in shares of McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of McKesson Corporation during the second quarter valued at approximately $125,000. Hedge funds and other institutional investors own 85.93% of the company’s stock.
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Several research firms have recently issued reports on MCK. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective on the stock. in a research report on Monday, July 17th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a report on Thursday, July 27th. BidaskClub lowered shares of McKesson Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley lowered shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $184.00 to $172.00 in a report on Thursday, September 14th. Finally, Needham & Company LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. McKesson Corporation has a consensus rating of “Hold” and an average price target of $174.27.
In other news, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The disclosure for this sale can be found here. Insiders have sold 950,983 shares of company stock valued at $145,560,946 over the last three months. Insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE MCK) opened at $138.05 on Tuesday. The company has a market cap of $28,688.18, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. McKesson Corporation has a one year low of $133.82 and a one year high of $169.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05.
McKesson Corporation (NYSE:MCK) last issued its 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. The firm had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.94 earnings per share. equities analysts anticipate that McKesson Corporation will post 12.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. 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 is currently 6.45%.
About McKesson Corporation
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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