HL Financial Services LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,478 shares of the company’s stock after acquiring an additional 945 shares during the quarter. HL Financial Services LLC’s holdings in McKesson Corporation were worth $1,149,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in MCK. American Beacon Advisors Inc. bought a new position in McKesson Corporation during the first quarter worth about $100,000. Captrust Financial Advisors bought a new position in McKesson Corporation during the second quarter worth about $107,000. Archford Capital Strategies LLC increased its position in McKesson Corporation by 52.8% during the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after acquiring an additional 268 shares during the period. Orrstown Financial Services Inc. increased its position in McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after acquiring an additional 43 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in McKesson Corporation during the second quarter worth about $125,000. 85.93% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corporation (NYSE:MCK) traded down $2.50 on Monday, hitting $137.61. 2,088,200 shares of the stock were exchanged, compared to its average volume of 1,841,100. McKesson Corporation has a one year low of $133.82 and a one year high of $169.29. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The firm has a market cap of $28,688.18, a P/E ratio of 11.32, a P/E/G ratio of 1.41 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The company had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same period last year, the company posted $2.94 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts predict that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.99%. McKesson Corporation’s dividend payout ratio is presently 6.45%.
In related news, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the sale, the chief executive officer now owns 165,000 shares in the company, valued at $25,329,150. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 950,983 shares of company stock worth $145,560,946. 1.20% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on the stock. Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research report on Monday, July 17th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research report on Thursday, July 27th. BidaskClub lowered shares of McKesson Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Morgan Stanley lowered shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $184.00 to $172.00 in a report on Thursday, September 14th. Finally, Needham & Company LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $174.27.
McKesson Corporation Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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