Russell Investments Group Ltd. decreased its position in McKesson Co. (NYSE:MCK) by 22.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 181,413 shares of the company’s stock after selling 51,343 shares during the period. Russell Investments Group Ltd.’s holdings in McKesson were worth $24,039,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Boston Partners increased its stake in shares of McKesson by 54.5% during the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after purchasing an additional 2,200,669 shares during the last quarter. Mainstay Capital Management LLC ADV increased its stake in shares of McKesson by 9,884.4% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 565,718 shares of the company’s stock worth $4,422,000 after purchasing an additional 560,052 shares during the last quarter. Vulcan Value Partners LLC increased its stake in shares of McKesson by 7.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock worth $502,664,000 after purchasing an additional 273,090 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $35,787,000. Finally, Millennium Management LLC purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $33,331,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.
McKesson stock opened at $125.41 on Monday. McKesson Co. has a 1-year low of $117.19 and a 1-year high of $178.86. The company has a market capitalization of $24.50 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The business had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. Sell-side analysts forecast that McKesson Co. will post 13.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.24%. McKesson’s dividend payout ratio is 12.36%.
In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.
MCK has been the subject of several research analyst reports. Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Citigroup decreased their price target on shares of McKesson from $160.00 to $2.86 and set a “buy” rating for the company in a research note on Friday, July 20th. Robert W. Baird lowered shares of McKesson from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Royal Bank of Canada restated a “hold” rating and set a $152.00 price target on shares of McKesson in a research note on Friday, July 27th. Finally, Jefferies Financial Group restated a “buy” rating and set a $160.00 price target on shares of McKesson in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $150.26.
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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