Utah Retirement Systems cut its position in McKesson Co. (NYSE:MCK) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 37,191 shares of the company’s stock after selling 1,000 shares during the period. Utah Retirement Systems’ holdings in McKesson were worth $4,933,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners boosted its position in shares of McKesson by 54.5% in the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock valued at $832,021,000 after purchasing an additional 2,200,669 shares during the period. Vulcan Value Partners LLC boosted its position in shares of McKesson by 7.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock valued at $502,664,000 after purchasing an additional 273,090 shares during the period. Pzena Investment Management LLC boosted its position in shares of McKesson by 11.4% in the 3rd quarter. Pzena Investment Management LLC now owns 3,160,195 shares of the company’s stock valued at $419,200,000 after purchasing an additional 323,485 shares during the period. Baupost Group LLC MA boosted its position in shares of McKesson by 33.7% in the 3rd quarter. Baupost Group LLC MA now owns 2,175,700 shares of the company’s stock valued at $288,607,000 after purchasing an additional 548,000 shares during the period. Finally, Kiltearn Partners LLP boosted its position in shares of McKesson by 9.1% in the 3rd quarter. Kiltearn Partners LLP now owns 2,040,651 shares of the company’s stock valued at $270,692,000 after purchasing an additional 170,753 shares during the period. 85.46% of the stock is owned by hedge funds and other institutional investors.
McKesson stock opened at $123.46 on Thursday. McKesson Co. has a twelve month low of $117.19 and a twelve month high of $178.86. 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 company has a market cap of $24.43 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 1.42 and a beta of 1.03.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The company had revenue of $53.08 billion during the quarter, compared to analysts’ expectations of $53.56 billion. As a group, research analysts forecast that McKesson Co. will post 13.41 EPS for the current year.
The business 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. The ex-dividend date is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.26%. McKesson’s payout ratio is 12.36%.
A number of brokerages recently issued reports on MCK. Morgan Stanley decreased their target price on McKesson from $142.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Barclays decreased their target price 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. Royal Bank of Canada set a $155.00 target price on McKesson and gave the company a “hold” rating in a research report on Friday, October 26th. Finally, Mizuho reissued a “hold” rating and issued a $133.00 target price on shares of McKesson in a research report on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. McKesson presently has a consensus rating of “Hold” and an average price target of $147.63.
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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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