Two Sigma Advisers LP trimmed its stake in McKesson Co. (NYSE:MCK) by 35.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 285,465 shares of the company’s stock after selling 158,500 shares during the period. Two Sigma Advisers LP owned about 0.14% of McKesson worth $44,518,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in McKesson during the 4th quarter worth approximately $111,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of McKesson during the 3rd quarter worth approximately $155,000. Virtue Capital Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $180,000. Focused Wealth Management Inc lifted its position in shares of McKesson by 650.0% during the 4th quarter. Focused Wealth Management Inc now owns 1,200 shares of the company’s stock worth $187,000 after buying an additional 1,040 shares during the last quarter. Finally, Community Financial Services Group LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $204,000. 88.65% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on MCK. Barclays began coverage on shares of McKesson in a research report on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price objective for the company. Bank of America assumed coverage on shares of McKesson in a research report on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price target for the company. Zacks Investment Research downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Credit Suisse Group reiterated a “sell” rating and issued a $130.00 price target on shares of McKesson in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $176.74.
In other news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
NYSE MCK traded down $2.90 during trading hours on Friday, reaching $139.71. The company’s stock had a trading volume of 2,012,983 shares, compared to its average volume of 1,787,881. McKesson Co. has a fifty-two week low of $133.82 and a fifty-two week high of $178.86. The stock has a market cap of $29,426.05, a price-to-earnings ratio of 12.03, a PEG ratio of 1.27 and a beta of 1.32. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $51.98 billion. During the same period last year, the company earned $3.04 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. research analysts expect that McKesson Co. will post 12.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. McKesson’s payout ratio is currently 11.71%.
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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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