Cascade Investment Advisors Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,905 shares of the company’s stock after purchasing an additional 260 shares during the period. Cascade Investment Advisors Inc.’s holdings in McKesson were worth $763,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in McKesson by 48.8% in the 3rd quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock worth $437,856,000 after acquiring an additional 1,082,398 shares in the last quarter. Pzena Investment Management LLC grew its stake in McKesson by 11.4% in the 3rd quarter. Pzena Investment Management LLC now owns 3,160,195 shares of the company’s stock worth $419,200,000 after acquiring an additional 323,485 shares in the last quarter. Baupost Group LLC MA grew its stake in McKesson by 33.7% in the 3rd quarter. Baupost Group LLC MA now owns 2,175,700 shares of the company’s stock worth $288,607,000 after acquiring an additional 548,000 shares in the last quarter. Kiltearn Partners LLP grew its stake in McKesson by 9.1% in the 3rd quarter. Kiltearn Partners LLP now owns 2,040,651 shares of the company’s stock worth $270,692,000 after acquiring an additional 170,753 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in McKesson by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 1,735,496 shares of the company’s stock worth $230,214,000 after acquiring an additional 207,533 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.
A number of brokerages have commented on MCK. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $144.00 price target for the company in a research report on Monday, February 4th. Barclays reaffirmed a “hold” rating and issued a $130.00 price target on shares of McKesson in a research report on Friday, February 1st. Deutsche Bank raised shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 price target for the company in a research report on Friday, January 25th. Finally, UBS Group began coverage on shares of McKesson in a research report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $137.99.NYSE:MCK traded up $1.17 during midday trading on Friday, reaching $135.56. 1,072,244 shares of the stock traded hands, compared to its average volume of 1,705,008. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.40 and a beta of 1.25. McKesson Co. has a 12-month low of $106.11 and a 12-month high of $160.87. The company has a quick ratio of 0.57, a current ratio of 1.02 and a debt-to-equity ratio of 0.81.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, January 31st. The company reported $3.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.18 by $0.22. The business had revenue of $56.21 billion during the quarter, compared to analysts’ expectations of $55.27 billion. McKesson had a negative net margin of 0.15% and a positive return on equity of 27.83%. During the same quarter last year, the company posted $3.41 earnings per share. As a group, analysts expect that McKesson Co. will post 13.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a $0.39 dividend. The ex-dividend date is Thursday, February 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.15%. McKesson’s dividend payout ratio is currently 12.36%.
In other news, EVP Lori A. Schechter sold 7,700 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $122.96, for a total value of $946,792.00. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $1,229,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is owned by corporate insiders.
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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