Alpine Woods Capital Investors LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,400 shares of the company’s stock after selling 39,200 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in McKesson Corporation were worth $8,971,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in MCK. Investment Centers of America Inc. purchased a new stake in McKesson Corporation in the 1st quarter worth $202,000. National Asset Management Inc. lifted its stake in McKesson Corporation by 2.5% in the 1st quarter. National Asset Management Inc. now owns 8,641 shares of the company’s stock worth $1,283,000 after purchasing an additional 212 shares in the last quarter. Redmile Group LLC purchased a new stake in McKesson Corporation in the 1st quarter worth $11,609,000. Canyon Capital Advisors LLC purchased a new stake in McKesson Corporation in the 1st quarter worth $31,128,000. Finally, CNA Financial Corp purchased a new stake in McKesson Corporation in the 1st quarter worth $2,127,000. Institutional investors and hedge funds own 87.50% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) traded down $0.57 during trading hours on Monday, reaching $142.13. 1,849,000 shares of the company traded hands, compared to its average volume of 1,852,228. The company has a market cap of $29,630.00, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21. McKesson Corporation has a one year low of $133.82 and a one year high of $169.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 EPS. analysts predict that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. McKesson Corporation’s dividend payout ratio is currently 6.44%.
Several analysts have recently issued reports on the stock. Credit Suisse Group restated an “underperform” rating and set a $130.00 target price (down from $155.00) on shares of McKesson Corporation in a research report on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and set a $173.00 target price (down from $178.00) on shares of McKesson Corporation in a research report on Wednesday, November 1st. ValuEngine upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Royal Bank Of Canada restated a “hold” rating and set a $170.00 target price on shares of McKesson Corporation in a research report on Friday, October 27th. Finally, Mizuho set a $168.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. McKesson Corporation has a consensus rating of “Hold” and a consensus price target of $174.27.
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In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John H. Hammergren sold 125,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The disclosure for this sale can be found here. Insiders sold a total of 949,900 shares of company stock worth $145,403,445 over the last 90 days. Insiders own 1.20% of the company’s stock.
McKesson Corporation 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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