Fundamentun LLC acquired a new position in shares of McKesson Co. (NYSE:MCK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,566 shares of the company’s stock, valued at approximately $652,000.
Other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its position in shares of McKesson by 161.2% in the fourth quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the period. Bedel Financial Consulting Inc. raised its stake in McKesson by 165.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 147 shares in the last quarter. Smart Portfolios LLC acquired a new position in McKesson in the first quarter valued at about $35,000. Investors Research Corp acquired a new position in McKesson in the first quarter valued at about $36,000. Finally, Dubuque Bank & Trust Co. raised its stake in McKesson by 106.7% in the first quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock valued at $40,000 after purchasing an additional 176 shares in the last quarter. 86.35% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Lori A. Schechter sold 2,766 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total value of $369,509.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.
MCK has been the subject of several research analyst reports. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a research note on Friday, January 25th. Barclays reissued a “hold” rating and set a $130.00 target price on shares of McKesson in a research note on Friday, February 1st. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, March 1st. Finally, UBS Group initiated coverage on McKesson in a research note on Thursday, January 17th. They set a “neutral” rating and a $134.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $134.90.
Shares of McKesson stock traded up $1.47 on Thursday, hitting $127.78. The stock had a trading volume of 24,793 shares, compared to its average volume of 1,522,885. McKesson Co. has a twelve month low of $106.11 and a twelve month high of $151.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.02 and a quick ratio of 0.58. The company has a market capitalization of $23.75 billion, a P/E ratio of 9.35, a P/E/G ratio of 1.27 and a beta of 1.23.
McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.66 by $0.03. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The company had revenue of $52.43 billion during the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 14.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is presently 11.50%.
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McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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