Manchester Capital Management LLC trimmed its stake in McKesson Corporation (NYSE:MCK) by 46.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 688 shares of the company’s stock after selling 600 shares during the period. Manchester Capital Management LLC’s holdings in McKesson were worth $106,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of MCK. Ballentine Partners LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $191,000. BlackRock Inc. lifted its position in shares of McKesson by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after purchasing an additional 1,131,024 shares during the period. Harbour Capital Advisors LLC lifted its position in shares of McKesson by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,013,942 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of McKesson in the 2nd quarter worth about $164,688,000. Finally, AJO LP lifted its position in shares of McKesson by 742.4% in the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock worth $106,466,000 after purchasing an additional 570,243 shares during the period. 87.50% of the stock is owned by hedge funds and other institutional investors.
In other McKesson news, CEO John H. Hammergren sold 125,000 shares of McKesson stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 900 shares of McKesson stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders sold 949,900 shares of company stock valued at $145,403,445 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
MCK has been the subject of a number of recent research reports. Needham & Company LLC set a $178.00 price target on shares of McKesson and gave the company a “buy” rating in a research report on Tuesday, October 24th. Credit Suisse Group reissued an “underperform” rating and set a $130.00 price target (down from $155.00) on shares of McKesson in a research report on Thursday, November 9th. TheStreet cut shares of McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Royal Bank Of Canada reissued a “hold” rating and set a $170.00 price target on shares of McKesson in a research report on Friday, October 27th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. 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 company. The company currently has an average rating of “Hold” and a consensus target price of $174.27.
Shares of McKesson Corporation (NYSE MCK) traded up $0.37 during trading on Monday, reaching $145.03. 710,027 shares of the company’s stock traded hands, compared to its average volume of 1,858,945. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. The stock has a market capitalization of $30,158.00, a PE ratio of 11.90, a PEG ratio of 1.49 and a beta of 1.21. McKesson Corporation has a twelve month low of $133.82 and a twelve month high of $169.29.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.94 earnings per share. research analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.94%. McKesson’s dividend payout ratio (DPR) is presently 6.45%.
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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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