M&T Bank Corp trimmed its position in shares of McKesson Co. (NYSE:MCK) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,647 shares of the company’s stock after selling 1,610 shares during the period. M&T Bank Corp’s holdings in McKesson were worth $6,652,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MCK. Boston Partners grew its stake in McKesson by 61.5% during the fourth quarter. Boston Partners now owns 1,815,132 shares of the company’s stock worth $283,070,000 after buying an additional 691,476 shares in the last quarter. Baupost Group LLC MA acquired a new stake in McKesson during the third quarter worth about $76,805,000. Pzena Investment Management LLC grew its stake in McKesson by 17.2% during 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. Dimensional Fund Advisors LP grew its stake in McKesson by 51.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock worth $156,273,000 after buying an additional 345,865 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in McKesson by 549.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 261,434 shares of the company’s stock worth $40,770,000 after buying an additional 221,205 shares in the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.
Shares of McKesson Co. (NYSE MCK) opened at $149.02 on Tuesday. McKesson Co. has a one year low of $133.82 and a one year high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm has a market cap of $30,730.11, a P/E ratio of 11.88, a PEG ratio of 1.35 and a beta of 1.23.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The company had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. During the same period last year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. sell-side analysts anticipate that McKesson Co. will post 12.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.91%. McKesson’s dividend payout ratio is presently 6.03%.
In related news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.
A number of brokerages have issued reports on MCK. Zacks Investment Research downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Credit Suisse Group reiterated a “sell” rating and set a $130.00 price objective on shares of McKesson in a research note on Friday, February 2nd. Mizuho reduced their price objective on shares of McKesson from $186.00 to $179.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Jefferies Group upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research note on Wednesday, January 24th. Finally, Needham & Company LLC raised their price target on shares of McKesson from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $178.97.
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McKesson Company Profile
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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