Arbor Wealth Management LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,695 shares of the company’s stock, valued at approximately $1,597,000.
Several other institutional investors also recently modified their holdings of the stock. Altavista Wealth Management Inc. increased its holdings in shares of McKesson by 2.2% in the first quarter. Altavista Wealth Management Inc. now owns 15,836 shares of the company’s stock valued at $2,231,000 after purchasing an additional 335 shares in the last quarter. Raymond James Trust N.A. boosted its stake in McKesson by 2.5% in the second quarter. Raymond James Trust N.A. now owns 15,079 shares of the company’s stock valued at $2,012,000 after acquiring an additional 371 shares during the last quarter. World Asset Management Inc boosted its stake in McKesson by 2.8% in the second quarter. World Asset Management Inc now owns 14,154 shares of the company’s stock valued at $1,888,000 after acquiring an additional 384 shares during the last quarter. OLD National Bancorp IN boosted its stake in McKesson by 4.9% in the second quarter. OLD National Bancorp IN now owns 8,573 shares of the company’s stock valued at $1,144,000 after acquiring an additional 397 shares during the last quarter. Finally, Brinker Capital Inc. boosted its stake in McKesson by 5.5% in the first quarter. Brinker Capital Inc. now owns 7,926 shares of the company’s stock valued at $1,117,000 after acquiring an additional 415 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of McKesson from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Leerink Swann set a $160.00 price objective on shares of McKesson and gave the company a “market perform” rating in a research note on Tuesday, May 29th. Standpoint Research raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Royal Bank of Canada reduced their price objective on shares of McKesson to $158.00 and set a “market perform” rating on the stock in a research note on Friday, June 29th. Finally, Morgan Stanley reduced their price objective on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. McKesson presently has a consensus rating of “Hold” and an average target price of $154.30.
In other news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.87% of the company’s stock.
Shares of NYSE MCK opened at $128.56 on Monday. The firm has a market cap of $26.03 billion, a PE ratio of 9.96, a PEG ratio of 1.39 and a beta of 1.25. McKesson Co. has a twelve month low of $122.49 and a twelve month high of $178.86. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.01. The company had revenue of $52.61 billion for the quarter, compared to analysts’ expectations of $52.91 billion. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. equities analysts anticipate that McKesson Co. will post 13.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.21%. This is a boost from McKesson’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 31st. McKesson’s dividend payout ratio (DPR) is currently 12.36%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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