Comerica Bank cut its holdings in McKesson Co. (NYSE:MCK) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,824 shares of the company’s stock after selling 262 shares during the quarter. Comerica Bank’s holdings in McKesson were worth $4,706,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position in shares of McKesson by 161.2% in the fourth quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock valued at $25,000 after purchasing an additional 137 shares during the last quarter. Bedel Financial Consulting Inc. boosted its position in McKesson by 165.2% during the fourth quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock worth $26,000 after acquiring an additional 147 shares during the last quarter. Smart Portfolios LLC acquired a new stake in McKesson during the first quarter worth approximately $35,000. Investors Research Corp acquired a new stake in McKesson during the first quarter worth approximately $36,000. Finally, Dubuque Bank & Trust Co. boosted its position in McKesson by 106.7% during the first quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock worth $40,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 86.35% of the company’s stock.
NYSE:MCK opened at $125.61 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.88. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 1.27 and a beta of 1.23. McKesson Co. has a fifty-two week low of $106.11 and a fifty-two week high of $151.86.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.66 by $0.03. The company had revenue of $52.43 billion for the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a net margin of 0.02% and a return on equity of 29.02%. McKesson’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.49 earnings per share. On average, equities analysts predict that McKesson Co. will post 14.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.50%.
A number of brokerages recently issued reports on MCK. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 8th. Barclays restated a “hold” rating and set a $130.00 target price on shares of McKesson in a research report on Friday, February 1st. Deutsche Bank upgraded shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research report on Friday, January 25th. Finally, UBS Group began coverage on shares of McKesson in a research report on Thursday, January 17th. They set a “neutral” rating and a $134.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. McKesson currently has an average rating of “Hold” and an average price target of $134.90.
In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $133.59, for a total transaction of $369,509.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.87% of the company’s stock.
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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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