Sonora Investment Management LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 39.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 581 shares of the company’s stock after selling 382 shares during the quarter. Sonora Investment Management LLC’s holdings in McKesson were worth $101,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MCK. RMR Wealth Builders acquired a new position in McKesson during the second quarter valued at $37,000. Jeppson Wealth Management LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at about $37,000. Glassman Wealth Services raised its stake in shares of McKesson by 393.5% in the 3rd quarter. Glassman Wealth Services now owns 306 shares of the company’s stock valued at $46,000 after purchasing an additional 244 shares during the period. Crewe Advisors LLC raised its stake in shares of McKesson by 69.2% in the 3rd quarter. Crewe Advisors LLC now owns 313 shares of the company’s stock valued at $47,000 after purchasing an additional 128 shares during the period. Finally, Old North State Trust LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at about $49,000. Institutional investors own 80.79% of the company’s stock.
Shares of NYSE MCK traded up $0.13 during midday trading on Wednesday, reaching $183.40. The stock had a trading volume of 607,219 shares, compared to its average volume of 1,227,943. The stock has a 50-day moving average of $176.71 and a 200-day moving average of $160.46. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.56 and a current ratio of 0.99. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. McKesson Co. has a 12-month low of $112.60 and a 12-month high of $187.67.
McKesson (NYSE:MCK) last issued its earnings results on Sunday, November 8th. The company reported $4.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.87 by $0.93. The firm had revenue of $60.81 billion during the quarter, compared to analyst estimates of $59.35 billion. McKesson had a net margin of 0.95% and a return on equity of 45.52%. McKesson’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 earnings per share. As a group, analysts forecast that McKesson Co. will post 16.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Monday, November 30th. McKesson’s payout ratio is currently 11.24%.
In related news, EVP Tracy Faber sold 546 shares of McKesson stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $174.00, for a total value of $95,004.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 6,324 shares of McKesson stock in a transaction that occurred on Wednesday, November 4th. The stock was 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 $1,522,785. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.
Several analysts have issued reports on MCK shares. Morgan Stanley lifted their price target on McKesson from $204.00 to $219.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. Barclays raised McKesson from an “equal weight” rating to an “overweight” rating and set a $166.00 price target on the stock in a research note on Monday, November 2nd. BidaskClub raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday. Mizuho lifted their target price on McKesson from $150.00 to $178.00 and gave the company a “neutral” rating in a research report on Friday, November 13th. Finally, Credit Suisse Group lifted their target price on McKesson from $174.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. McKesson presently has a consensus rating of “Buy” and an average price target 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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