US Bancorp DE Cuts Stake in McKesson Corp. (MCK)
US Bancorp DE lowered its stake in McKesson Corp. (NYSE:MCK) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,465 shares of the company’s stock after selling 11,999 shares during the period. US Bancorp DE’s holdings in McKesson Corp. were worth $35,595,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of McKesson Corp. by 0.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 98,355 shares of the company’s stock worth $18,358,000 after buying an additional 300 shares during the last quarter. HGK Asset Management Inc. acquired a new position in shares of McKesson Corp. during the second quarter worth about $12,358,000. CAM Group Holding A S raised its position in shares of McKesson Corp. by 2.7% in the second quarter. CAM Group Holding A S now owns 1,292,475 shares of the company’s stock worth $241,241,000 after buying an additional 33,903 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of McKesson Corp. by 9.0% in the second quarter. Nisa Investment Advisors LLC now owns 97,908 shares of the company’s stock worth $18,274,000 after buying an additional 8,101 shares during the last quarter. Finally, BB&T Corp raised its position in shares of McKesson Corp. by 1,721.6% in the second quarter. BB&T Corp now owns 113,597 shares of the company’s stock worth $21,203,000 after buying an additional 107,361 shares during the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corp. (NYSE:MCK) traded up 2.099% on Wednesday, reaching $144.215. The company’s stock had a trading volume of 354,197 shares. McKesson Corp. has a 52 week low of $114.53 and a 52 week high of $202.20. The stock has a market capitalization of $32.60 billion, a price-to-earnings ratio of 17.286 and a beta of 1.02. The stock has a 50-day moving average of $147.23 and a 200 day moving average of $174.41.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing the consensus estimate of $3.05 by $0.11. McKesson Corp. had a net margin of 0.99% and a return on equity of 29.85%. The business had revenue of $49.96 billion for the quarter, compared to the consensus estimate of $24.16 billion. During the same quarter in the previous year, the company earned $3.31 EPS. McKesson Corp.’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts expect that McKesson Corp. will post $12.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 annualized dividend and a yield of 0.79%. McKesson Corp.’s payout ratio is 13.45%.
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A number of equities analysts have issued reports on the company. Vetr raised McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Robert W. Baird lowered McKesson Corp. from an “outperform” rating to a “neutral” rating and cut their target price for the company from $200.00 to $164.00 in a research report on Friday, October 28th. Standpoint Research lowered McKesson Corp. from a “buy” rating to a “hold” rating in a research report on Friday, November 11th. Mizuho upped their target price on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, Argus reaffirmed a “hold” rating on shares of McKesson Corp. in a research report on Monday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. McKesson Corp. presently has an average rating of “Hold” and a consensus price target of $189.50.
In other McKesson Corp. news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total value of $18,514,110.00. Following the completion of the sale, the chairman now owns 100,500 shares in the company, valued at approximately $18,514,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A. Budd sold 2,309 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $179.70, for a total value of $414,927.30. Following the completion of the sale, the director now owns 723 shares of the company’s stock, valued at approximately $129,923.10. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
About McKesson Corp.
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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