LPL Financial LLC grew its stake in McKesson Co. (NYSE:MCK) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 39,623 shares of the company’s stock after acquiring an additional 2,795 shares during the quarter. LPL Financial LLC’s holdings in McKesson were worth $6,179,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in MCK. Nationwide Fund Advisors grew its stake in shares of McKesson by 4.8% in the 3rd quarter. Nationwide Fund Advisors now owns 272,349 shares of the company’s stock valued at $41,836,000 after purchasing an additional 12,464 shares during the period. Sei Investments Co. grew its stake in shares of McKesson by 2.4% in the 3rd quarter. Sei Investments Co. now owns 20,421 shares of the company’s stock valued at $3,136,000 after purchasing an additional 469 shares during the period. Macquarie Group Ltd. grew its stake in shares of McKesson by 0.7% in the 3rd quarter. Macquarie Group Ltd. now owns 54,729 shares of the company’s stock valued at $8,406,000 after purchasing an additional 380 shares during the period. Van ECK Associates Corp grew its stake in shares of McKesson by 3.5% in the 3rd quarter. Van ECK Associates Corp now owns 301,524 shares of the company’s stock valued at $46,317,000 after purchasing an additional 10,261 shares during the period. Finally, LMR Partners LLP bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $254,000. Institutional investors own 88.64% of the company’s stock.
In other McKesson news, SVP Erin M. Lampert sold 1,413 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.
MCK stock opened at $139.04 on Friday. McKesson Co. has a 1-year low of $133.82 and a 1-year high of $178.86. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $29,236.21, a price-to-earnings ratio of 6.16, a price-to-earnings-growth ratio of 1.34 and a beta of 1.29.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The firm had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. During the same quarter in the prior year, the business earned $3.04 EPS. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts expect that McKesson Co. will post 12.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.98%. The ex-dividend date is Wednesday, February 28th. McKesson’s dividend payout ratio is 6.03%.
MCK has been the topic of several analyst reports. Deutsche Bank initiated coverage on McKesson in a research note on Monday, December 4th. They issued a “buy” rating and a $175.00 price objective on the stock. Credit Suisse Group reissued a “sell” rating and issued a $130.00 target price on shares of McKesson in a report on Friday, February 2nd. Jefferies Group raised McKesson from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, January 24th. ValuEngine downgraded McKesson from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $189.00 target price on the stock in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $176.74.
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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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