Envestnet Asset Management Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 8.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,139 shares of the company’s stock after selling 3,226 shares during the period. Envestnet Asset Management Inc.’s holdings in McKesson were worth $5,247,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Family Firm Inc. increased its position in McKesson by 0.3% during the second quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock worth $316,000 after buying an additional 5 shares during the last quarter. Cypress Capital Group increased its position in McKesson by 0.3% during the second quarter. Cypress Capital Group now owns 3,588 shares of the company’s stock worth $590,000 after buying an additional 10 shares during the last quarter. Cadence Capital Management LLC increased its position in McKesson by 0.4% during the second quarter. Cadence Capital Management LLC now owns 8,621 shares of the company’s stock worth $1,418,000 after buying an additional 36 shares during the last quarter. Savant Capital LLC increased its position in McKesson by 1.6% during the second quarter. Savant Capital LLC now owns 2,538 shares of the company’s stock worth $418,000 after buying an additional 40 shares during the last quarter. Finally, WFG Advisors LP increased its position in McKesson by 5.0% during the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at $152.57 on Friday. The stock has a market capitalization of $31,807.03, a PE ratio of 12.55, a PEG ratio of 1.57 and a beta of 1.23. McKesson Corporation has a 1 year low of $133.82 and a 1 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 (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The company had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $2.94 earnings per share. sell-side analysts predict that McKesson Corporation will post 12.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio is currently 6.45%.
In related news, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares in the company, valued at $25,329,150. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,000 shares of company stock valued at $145,263,360. 1.20% of the stock is owned by corporate insiders.
MCK has been the topic of several analyst reports. Needham & Company LLC set a $178.00 target price on shares of McKesson and gave the stock a “buy” rating in a research report on Tuesday, October 24th. ValuEngine raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Deutsche Bank initiated coverage on shares of McKesson in a research report on Monday, December 4th. They set a “buy” rating and a $175.00 target price on the stock. TheStreet downgraded shares of McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Morgan Stanley downgraded shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $184.00 to $172.00 in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. McKesson presently has an average rating of “Buy” and an average price target of $174.31.
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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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