Blueshift Asset Management LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,857 shares of the company's stock, valued at approximately $1,413,000.
Several other hedge funds and other institutional investors also recently modified their holdings of MCK. LRI Investments LLC bought a new position in McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the third quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the third quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 85.07% of the company's stock.
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of analysts have commented on the stock. Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research report on Thursday, August 8th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Finally, Citigroup boosted their price objective on McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $631.57.
Read Our Latest Analysis on McKesson
McKesson Stock Up 1.3 %
Shares of NYSE:MCK opened at $625.00 on Wednesday. The company's fifty day moving average is $535.14 and its two-hundred day moving average is $558.45. The company has a market cap of $79.34 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.
McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The company's revenue was up 21.3% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 32.78 earnings per share for the current year.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson's payout ratio is 14.71%.
About McKesson
(
Free Report)
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.
Further Reading
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