Becker Capital Management Inc. boosted its stake in shares of McKesson Co. (NYSE:MCK) by 0.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 240,804 shares of the company’s stock after purchasing an additional 2,046 shares during the quarter. Becker Capital Management Inc.’s holdings in McKesson were worth $31,943,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FTB Advisors Inc. grew its position in shares of McKesson by 5.7% during the 3rd quarter. FTB Advisors Inc. now owns 38,176 shares of the company’s stock valued at $5,923,000 after acquiring an additional 2,063 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of McKesson by 83.5% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 71,285 shares of the company’s stock valued at $9,456,000 after acquiring an additional 32,440 shares during the period. Gulf International Bank UK Ltd grew its position in shares of McKesson by 1.9% during the 3rd quarter. Gulf International Bank UK Ltd now owns 69,011 shares of the company’s stock valued at $9,154,000 after acquiring an additional 1,300 shares during the period. American Century Companies Inc. grew its position in shares of McKesson by 13.6% during the 3rd quarter. American Century Companies Inc. now owns 1,735,496 shares of the company’s stock valued at $230,214,000 after acquiring an additional 207,533 shares during the period. Finally, Pekin Singer Strauss Asset Management IL grew its position in shares of McKesson by 13.7% during the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 5,517 shares of the company’s stock valued at $732,000 after acquiring an additional 665 shares during the period. 89.19% of the stock is currently owned by institutional investors.
Shares of McKesson stock opened at $128.60 on Wednesday. The stock has a market capitalization of $24.50 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.43 and a beta of 1.05. McKesson Co. has a twelve month low of $117.19 and a twelve month high of $178.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.56 and a current ratio of 0.99.
McKesson (NYSE:MCK) last released its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for 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 announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the firm’s 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 SEC, which can be accessed through the SEC website. Company insiders own 0.87% of the company’s stock.
A number of brokerages recently weighed in on MCK. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Barclays decreased their price target on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada set a $155.00 price target on shares of McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Mizuho reaffirmed a “hold” rating and issued a $133.00 price target on shares of McKesson in a research note on Sunday, August 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $150.26.
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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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