Stratos Wealth Partners LTD. decreased its holdings in McKesson Co. (NYSE:MCK) by 23.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,941 shares of the company’s stock after selling 6,271 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in McKesson were worth $2,778,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Fort L.P. purchased a new stake in McKesson in the second quarter worth $110,000. James Hambro & Partners lifted its stake in McKesson by 141.6% in the second quarter. James Hambro & Partners now owns 877 shares of the company’s stock worth $117,000 after acquiring an additional 514 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in McKesson in the second quarter worth $118,000. Reilly Financial Advisors LLC lifted its stake in McKesson by 506.8% in the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after acquiring an additional 750 shares during the period. Finally, Bray Capital Advisors purchased a new stake in McKesson in the third quarter worth $123,000. 89.19% of the stock is owned by institutional investors.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.87% of the company’s stock.
Shares of McKesson stock opened at $128.60 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.43 and a beta of 1.05. McKesson Co. has a 12 month low of $117.19 and a 12 month high of $178.86.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.28 by $0.32. The business had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. Sell-side analysts anticipate that McKesson Co. will post 13.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.
A number of brokerages recently commented on MCK. Robert W. Baird lowered McKesson from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $152.00 price target on shares of McKesson in a research note on Friday, July 27th. JPMorgan Chase & Co. dropped their price target on McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Standpoint Research raised McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Finally, Barclays lowered their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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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