GSA Capital Partners LLP cut its holdings in McKesson Co. (NYSE:MCK) by 38.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,995 shares of the company’s stock after selling 6,861 shares during the period. GSA Capital Partners LLP’s holdings in McKesson were worth $1,458,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Mainstay Capital Management LLC ADV increased its position in shares of McKesson by 9,884.4% during the second 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 in the last quarter. Hsbc Holdings PLC increased its position in shares of McKesson by 128.0% during the third quarter. Hsbc Holdings PLC now owns 644,443 shares of the company’s stock worth $85,475,000 after purchasing an additional 361,845 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of McKesson by 173.2% during the third quarter. JPMorgan Chase & Co. now owns 520,286 shares of the company’s stock worth $69,016,000 after purchasing an additional 329,814 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of McKesson by 11.4% during the third quarter. Pzena Investment Management LLC now owns 3,160,195 shares of the company’s stock worth $419,200,000 after purchasing an additional 323,485 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its position in shares of McKesson by 7.8% during the second 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 in the last quarter. Institutional investors own 85.46% of the company’s stock.
NYSE MCK opened at $124.94 on Friday. 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 Co. has a 52-week low of $117.19 and a 52-week high of $178.86. The stock has a market cap of $24.70 billion, a P/E ratio of 9.43, a P/E/G ratio of 1.44 and a beta of 1.03.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The firm had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. Analysts predict that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.
A number of analysts have recently commented on MCK shares. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Mizuho reiterated a “hold” rating and set a $133.00 target price on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 target price on McKesson and gave the stock a “hold” rating in a research report on Friday, October 26th. Barclays cut their target price on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Finally, Morgan Stanley cut their target price on McKesson from $142.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Monday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price 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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