Royal London Asset Management Ltd. raised its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,606 shares of the company's stock after acquiring an additional 1,431 shares during the quarter. Royal London Asset Management Ltd.'s holdings in McKesson were worth $29,965,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RFP Financial Group LLC boosted its stake in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC grew its holdings in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock worth $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC raised its position in shares of McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after buying an additional 17 shares during the last quarter. Lester Murray Antman dba SimplyRich lifted its stake in shares of McKesson by 0.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after buying an additional 19 shares during the period. Finally, Black Diamond Financial LLC boosted its position in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.
McKesson Price Performance
NYSE MCK traded down $3.99 during trading hours on Friday, hitting $603.53. The company had a trading volume of 730,596 shares, compared to its average volume of 826,811. The firm's 50 day moving average is $552.52 and its 200 day moving average is $561.54. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a market capitalization of $76.61 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.32 and a beta of 0.49.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's revenue was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.23 EPS. On average, equities analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.
McKesson Dividend Announcement
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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson's payout ratio is 14.71%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $635.86.
Read Our Latest Analysis on McKesson
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.
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