ING Groep NV lowered its position in McKesson Co. (NYSE:MCK) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,527 shares of the company’s stock after selling 123 shares during the period. ING Groep NV’s holdings in McKesson were worth $2,053,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. TRU Independence Asset Management 2 LLC bought a new position in shares of McKesson in the fourth quarter valued at approximately $25,000. Encompass Wealth Advisors LLC purchased a new stake in McKesson in the fourth quarter worth $25,000. Savior LLC grew its position in shares of McKesson by 59.4% in the first quarter. Savior LLC now owns 153 shares of the company’s stock valued at $30,000 after purchasing an additional 57 shares in the last quarter. Charter Oak Capital Management LLC purchased a new position in shares of McKesson in the fourth quarter valued at $27,000. Finally, Childress Capital Advisors LLC bought a new stake in McKesson during the fourth quarter valued at $33,000. Institutional investors own 85.34% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their target price on McKesson from $231.00 to $257.00 and gave the company a “buy” rating in a research note on Friday, May 7th. Mizuho upped their price target on McKesson from $190.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 12th. Argus upgraded McKesson from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a research note on Tuesday, March 30th. Credit Suisse Group upped their price objective on McKesson from $192.00 to $222.00 and gave the company a “neutral” rating in a research report on Monday, May 10th. Finally, Cowen increased their price target on McKesson from $210.00 to $224.00 and gave the company an “outperform” rating in a report on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $209.18.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 6th. The company reported $5.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.02 by $0.03. The business had revenue of $59.10 billion during the quarter, compared to the consensus estimate of $61.08 billion. McKesson had a negative net margin of 1.91% and a positive return on equity of 95.80%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.27 earnings per share. As a group, research analysts forecast that McKesson Co. will post 19.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 1st will be given a $0.42 dividend. The ex-dividend date is Monday, May 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.86%. McKesson’s dividend payout ratio (DPR) is currently 9.76%.
In other news, CEO Brian S. Tyler sold 5,511 shares of the business’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $191.41, for a total transaction of $1,054,860.51. Following the completion of the sale, the chief executive officer now owns 24,501 shares of the company’s stock, valued at $4,689,736.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 6,798 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $200.00, for a total transaction of $1,359,600.00. Following the sale, the chief executive officer now directly owns 12,192 shares of the company’s stock, valued at approximately $2,438,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,060 shares of company stock valued at $3,752,010. Insiders own 0.28% of the company’s stock.
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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