Eqis Capital Management Inc. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,120 shares of the company’s stock after selling 333 shares during the quarter. Eqis Capital Management Inc.’s holdings in McKesson were worth $465,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Nordea Investment Management AB lifted its position in shares of McKesson by 94.2% in the 2nd quarter. Nordea Investment Management AB now owns 4,367,142 shares of the company’s stock valued at $657,080,000 after acquiring an additional 2,117,981 shares in the last quarter. BlackRock Inc. raised its holdings in shares of McKesson by 14.9% during the 2nd quarter. BlackRock Inc. now owns 14,442,703 shares of the company’s stock valued at $2,215,798,000 after purchasing an additional 1,876,293 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of McKesson by 90.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,252,344 shares of the company’s stock valued at $188,428,000 after purchasing an additional 596,395 shares in the last quarter. Senator Investment Group LP acquired a new position in McKesson in the 2nd quarter valued at $84,381,000. Finally, Marshall Wace North America L.P. grew its position in McKesson by 190.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 660,949 shares of the company’s stock worth $101,402,000 after purchasing an additional 433,139 shares during the last quarter. Hedge funds and other institutional investors own 86.55% of the company’s stock.
A number of equities analysts have recently commented on MCK shares. Morgan Stanley raised their price objective on shares of McKesson from $204.00 to $219.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. Credit Suisse Group boosted their target price on shares of McKesson from $174.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. The Goldman Sachs Group upgraded shares of McKesson from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, October 19th. 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 report on Friday, November 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $183.86.
In other news, CFO Britt J. Vitalone sold 6,324 shares of the firm’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 link. Company insiders own 0.28% of the company’s stock.
McKesson stock opened at $169.87 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.57 and a current ratio of 0.99. McKesson Co. has a 52-week low of $112.60 and a 52-week 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. The firm has a market cap of $27.28 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.69 and a beta of 0.81.
McKesson (NYSE:MCK) last released its quarterly earnings results on Sunday, November 8th. The company reported $4.80 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $59.35 billion. During the same quarter last year, the business earned $3.60 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 16.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, November 30th. McKesson’s dividend payout ratio (DPR) is 11.24%.
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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