UBS Asset Management Americas Inc. boosted its stake in shares of McKesson Co. (NYSE:MCK) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 803,675 shares of the company’s stock after purchasing an additional 12,729 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.39% of McKesson worth $125,333,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of McKesson in the third quarter valued at approximately $155,000. Community Financial Services Group LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $204,000. Biltmore Wealth Management LLC bought a new stake in shares of McKesson in the third quarter valued at approximately $206,000. Sawyer & Company Inc bought a new stake in shares of McKesson in the fourth quarter valued at approximately $208,000. Finally, Aries Wealth Management bought a new stake in shares of McKesson in the fourth quarter valued at approximately $218,000. 88.91% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Co. (NYSE MCK) traded down $2.25 during midday trading on Wednesday, hitting $155.44. The company had a trading volume of 2,001,608 shares, compared to its average volume of 1,780,000. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $32,070.00, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29. McKesson Co. has a twelve month low of $133.82 and a twelve month high of $178.86.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. During the same period in the prior year, the company posted $3.04 earnings per share. McKesson’s revenue was up 7.0% on a year-over-year basis. equities analysts anticipate that McKesson Co. will post 12.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.87%. McKesson’s dividend payout ratio is currently 6.54%.
In other McKesson news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman John H. Hammergren sold 65,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several equities research analysts have recently weighed in on MCK shares. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, February 20th. Credit Suisse Group reissued a “sell” rating and issued a $130.00 price objective on shares of McKesson in a research report on Friday, February 2nd. ValuEngine cut McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America started coverage on McKesson in a research report on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price objective for the company. Finally, Jefferies Group raised McKesson from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. McKesson currently has a consensus rating of “Hold” and a consensus target price of $176.74.
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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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