Capital Investment Advisors LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,366 shares of the company’s stock after selling 693 shares during the period. Capital Investment Advisors LLC’s holdings in McKesson were worth $1,461,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the stock. Koshinski Asset Management Inc. purchased a new stake in McKesson in the fourth quarter worth $256,000. CWM LLC lifted its stake in McKesson by 24,866.2% in the fourth quarter. CWM LLC now owns 105,607 shares of the company’s stock worth $16,469,000 after acquiring an additional 105,184 shares during the period. Convergence Investment Partners LLC lifted its stake in McKesson by 16.1% in the fourth quarter. Convergence Investment Partners LLC now owns 23,643 shares of the company’s stock worth $3,687,000 after acquiring an additional 3,287 shares during the period. Atria Investments LLC lifted its stake in McKesson by 18.0% in the fourth quarter. Atria Investments LLC now owns 10,448 shares of the company’s stock worth $1,629,000 after acquiring an additional 1,597 shares during the period. Finally, KCS Wealth Advisory purchased a new stake in McKesson in the fourth quarter worth $748,000. 87.91% of the stock is owned by institutional investors.
McKesson Co. (NYSE MCK) opened at $172.83 on Thursday. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $36,030.00, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 1.70 and a beta of 1.23. McKesson Co. has a 52-week low of $133.82 and a 52-week high of $173.84.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.94 earnings per share. equities research analysts forecast that McKesson Co. will post 12.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, November 30th. McKesson’s dividend payout ratio is presently 6.44%.
A number of analysts recently commented on MCK shares. Needham & Company LLC set a $178.00 price target on McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of McKesson in a research note on Thursday, November 9th. Deutsche Bank started coverage on McKesson in a research note on Monday, December 4th. They issued a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada reaffirmed a “hold” rating and issued a $170.00 price target on shares of McKesson in a research note on Friday, October 27th. Finally, Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a research report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $175.86.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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