Kovitz Investment Group Partners LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,083 shares of the company’s stock after selling 95 shares during the period. Kovitz Investment Group Partners LLC’s holdings in McKesson were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Keebeck Wealth Management LLC acquired a new stake in shares of McKesson in the second quarter valued at approximately $32,000. RMR Wealth Builders acquired a new stake in McKesson during the 2nd quarter worth $37,000. Glassman Wealth Services grew its holdings in McKesson by 393.5% during the 3rd quarter. Glassman Wealth Services now owns 306 shares of the company’s stock worth $46,000 after acquiring an additional 244 shares during the period. Crewe Advisors LLC boosted its position in shares of McKesson by 69.2% during the third quarter. Crewe Advisors LLC now owns 313 shares of the company’s stock worth $47,000 after purchasing an additional 128 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of McKesson during the second quarter worth $48,000. 86.55% of the stock is owned by institutional investors.
In other news, CFO Britt J. Vitalone sold 6,324 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $165.00, for a total transaction of $1,043,460.00. Following the completion of the sale, the chief financial officer now owns 9,229 shares of the company’s stock, valued at approximately $1,522,785. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
NYSE MCK opened at $169.87 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $27.28 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.69 and a beta of 0.81. McKesson Co. has a 12-month low of $112.60 and a 12-month high of $187.67. The firm has a 50-day moving average price of $159.40 and a two-hundred day moving average price of $152.98.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Sunday, November 8th. The company reported $4.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.87 by $0.93. McKesson had a net margin of 0.95% and a return on equity of 45.52%. The firm had revenue of $60.81 billion during the quarter, compared to the consensus estimate of $59.35 billion. During the same quarter in the previous year, the firm posted $3.60 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 16.17 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.
A number of equities analysts have recently weighed in on MCK shares. Credit Suisse Group lifted their price target on shares of McKesson from $174.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $187.00 to $198.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Barclays raised shares of McKesson from an “equal weight” rating to an “overweight” rating and set a $166.00 price objective on the stock in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of McKesson from $202.00 to $222.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Finally, Mizuho boosted their price objective on shares of McKesson from $150.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday, November 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. McKesson has a consensus rating of “Buy” and an average target price of $183.86.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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