Osborn Williams & Donohoe LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 14.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,951 shares of the company’s stock after selling 1,364 shares during the period. Osborn Williams & Donohoe LLC’s holdings in McKesson Corporation were worth $1,221,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. IHT Wealth Management LLC raised its stake in McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after purchasing an additional 190 shares during the period. Captrust Financial Advisors purchased a new stake in shares of McKesson Corporation in the 2nd quarter valued at approximately $107,000. American Beacon Advisors Inc. purchased a new stake in shares of McKesson Corporation in the 1st quarter valued at approximately $100,000. Orrstown Financial Services Inc. raised its stake in shares of McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after acquiring an additional 43 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of McKesson Corporation in the 2nd quarter valued at approximately $125,000. 85.29% of the stock is currently owned by institutional investors.
Shares of McKesson Corporation (NYSE MCK) traded down 5.41% during trading on Friday, hitting $135.78. 2,127,567 shares of the stock were exchanged. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29. The stock has a market cap of $28.55 billion, a P/E ratio of 6.16 and a beta of 1.17. The stock has a 50-day moving average of $151.90 and a 200 day moving average of $153.68.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to analysts’ expectations of $51.69 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.94 earnings per share. Equities analysts predict that McKesson Corporation will post $12.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio is 6.07%.
MCK has been the topic of a number of research analyst reports. TheStreet downgraded shares of McKesson Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Morgan Stanley downgraded shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th. Needham & Company LLC set a $178.00 target price on shares of McKesson Corporation and gave the stock a “buy” rating in a research note on Tuesday. Cowen and Company upgraded shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $176.00 to $189.00 in a report on Tuesday, October 10th. Finally, Royal Bank Of Canada initiated coverage on shares of McKesson Corporation in a report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $172.40.
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In other news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John H. Hammergren sold 99,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at approximately $25,391,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 952,066 shares of company stock worth $145,736,987. 1.20% of the stock is owned by company insiders.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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