Colony Group LLC reduced its stake in McKesson Co. (NYSE:MCK) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,031 shares of the company’s stock after selling 781 shares during the period. Colony Group LLC’s holdings in McKesson were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in McKesson by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after purchasing an additional 1,131,024 shares during the period. Vanguard Group Inc. boosted its stake in McKesson by 0.4% in the second quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after buying an additional 62,004 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in McKesson by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after buying an additional 154,967 shares in the last quarter. Pzena Investment Management LLC boosted its stake in McKesson by 17.2% in the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after buying an additional 360,676 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in McKesson by 12.7% in the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after buying an additional 239,358 shares in the last quarter. Institutional investors own 88.10% of the company’s stock.
Shares of McKesson Co. (NYSE MCK) traded up $0.66 during trading on Thursday, hitting $155.21. The company had a trading volume of 1,461,000 shares, compared to its average volume of 1,874,146. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05. The company has a market capitalization of $32,219.73, a P/E ratio of 12.71, a PEG ratio of 1.58 and a beta of 1.23. McKesson Co. has a one year low of $133.82 and a one year high of $169.29.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.50. The company had revenue of $52.06 billion during 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 for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.94 earnings per share. equities analysts predict that McKesson Co. will post 12.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. McKesson’s dividend payout ratio (DPR) is 6.45%.
A number of research firms have recently weighed in on MCK. Morgan Stanley lowered McKesson from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $184.00 to $172.00 in a research note on Thursday, September 14th. Needham & Company LLC raised McKesson from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research note on Friday, September 8th. Mizuho set a $168.00 price objective on McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. Royal Bank of Canada began coverage on McKesson in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price objective for the company. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $174.31.
In other McKesson news, Chairman John H. Hammergren sold 225,000 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction on 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 completion of the transaction, 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.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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