Bristlecone Advisors LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 5.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,386 shares of the company’s stock after selling 715 shares during the quarter. Bristlecone Advisors LLC’s holdings in McKesson were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Baupost Group LLC MA purchased a new stake in McKesson during the 3rd quarter valued at about $76,805,000. Pzena Investment Management LLC boosted its holdings in shares of McKesson by 17.2% during the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after acquiring an additional 360,676 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of McKesson by 51.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock valued at $156,273,000 after acquiring an additional 345,865 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of McKesson by 2,499.1% during the 2nd quarter. Sterling Capital Management LLC now owns 355,560 shares of the company’s stock valued at $58,504,000 after acquiring an additional 341,880 shares during the last quarter. Finally, Canyon Capital Advisors LLC boosted its holdings in shares of McKesson by 154.4% during the 2nd quarter. Canyon Capital Advisors LLC now owns 534,092 shares of the company’s stock valued at $87,879,000 after acquiring an additional 324,137 shares during the last quarter. Institutional investors and hedge funds own 86.63% of the company’s stock.
McKesson Co. (MCK) traded down $0.44 during mid-day trading on Wednesday, hitting $145.74. 224,091 shares of the company were exchanged, compared to its average volume of 1,831,155. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.61 and a current ratio of 1.07. The stock has a market capitalization of $30,748.68, a price-to-earnings ratio of 6.48, a PEG ratio of 1.35 and a beta of 1.23. McKesson Co. has a 1 year low of $133.82 and a 1 year high of $178.86.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping the consensus estimate of $2.92 by $0.49. The company had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. McKesson’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. research analysts anticipate that McKesson Co. will post 12.71 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders 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 dividend yield of 0.93%. McKesson’s dividend payout ratio (DPR) is 6.03%.
MCK has been the topic of a number of recent analyst reports. Needham & Company LLC set a $178.00 price target on shares of McKesson and gave the company a “buy” rating in a report on Tuesday, October 24th. Credit Suisse Group reiterated an “underperform” rating and issued a $130.00 price objective (down previously from $155.00) on shares of McKesson in a research note on Thursday, November 9th. Deutsche Bank started coverage on shares of McKesson in a research note on Monday, December 4th. They issued a “buy” rating and a $175.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and issued a $170.00 price objective on shares of McKesson in a research note on Friday, October 27th. Finally, ValuEngine cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $178.97.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction on Thursday, December 14th. The stock was 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 Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company 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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