Addenda Capital Inc. lowered its holdings in McKesson Co. (NYSE:MCK) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,314 shares of the company’s stock after selling 602 shares during the quarter. Addenda Capital Inc.’s holdings in McKesson were worth $1,982,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Ingalls & Snyder LLC boosted its stake in McKesson by 76.7% in the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after purchasing an additional 7,352 shares in the last quarter. Whittier Trust Co. boosted its stake in McKesson by 1.5% in the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock worth $9,649,000 after purchasing an additional 898 shares in the last quarter. River & Mercantile Asset Management LLP boosted its stake in McKesson by 278.6% in the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock worth $27,321,000 after purchasing an additional 130,852 shares in the last quarter. Cypress Capital Management LLC boosted its stake in McKesson by 77.4% in the second quarter. Cypress Capital Management LLC now owns 3,861 shares of the company’s stock worth $635,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in McKesson by 62.8% in the third quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock worth $890,000 after purchasing an additional 2,238 shares in the last quarter. 87.88% of the stock is currently owned by institutional investors.
In related news, Chairman John H. Hammergren sold 65,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
Several brokerages have recently issued reports on MCK. Needham & Company LLC set a $178.00 price target on McKesson and gave the company a “buy” rating in a research note on Tuesday, October 24th. Credit Suisse Group reaffirmed an “underperform” rating and set a $130.00 price target (down previously from $155.00) on shares of McKesson in a research note on Thursday, November 9th. Deutsche Bank began coverage on McKesson in a research note on Monday, December 4th. They set a “buy” rating and a $175.00 price target on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $170.00 price target on shares of McKesson in a research note on Friday, October 27th. Finally, Jefferies Group set a $165.00 price target on McKesson and gave the company a “hold” rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $174.64.
Shares of McKesson Co. (MCK) opened at $166.25 on Friday. The company has a market capitalization of $33,835.41, a PE ratio of 13.35, a P/E/G ratio of 1.66 and a beta of 1.23. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. McKesson Co. has a fifty-two week low of $133.82 and a fifty-two week high of $169.29.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.94 earnings per share. equities analysts expect that McKesson Co. will post 12.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were issued a $0.34 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.82%. McKesson’s dividend payout ratio is presently 6.45%.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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