Commonwealth Equity Services Inc Boosts Stake in McKesson Corporation (MCK)
Commonwealth Equity Services Inc lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,523 shares of the company’s stock after buying an additional 1,081 shares during the period. Commonwealth Equity Services Inc’s holdings in McKesson Corporation were worth $5,764,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Ingalls & Snyder LLC raised its holdings in shares of McKesson Corporation by 76.7% during 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 during the last quarter. Whittier Trust Co. raised its holdings in shares of McKesson Corporation by 1.5% during 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 during the last quarter. Wells Fargo & Company MN raised its holdings in shares of McKesson Corporation by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after purchasing an additional 239,358 shares during the last quarter. River & Mercantile Asset Management LLP raised its holdings in shares of McKesson Corporation by 278.6% during 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 during the last quarter. Finally, Dai Ichi Life Insurance Company Ltd raised its holdings in shares of McKesson Corporation by 194.3% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock worth $4,848,000 after purchasing an additional 19,450 shares during the last quarter. Institutional investors and hedge funds own 85.93% of the company’s stock.
Several research analysts recently issued reports on the stock. Credit Suisse Group reissued an “underperform” rating and set a $130.00 target price (down previously from $155.00) on shares of McKesson Corporation in a report on Thursday, November 9th. Needham & Company LLC reissued a “buy” rating and set a $173.00 target price (down previously from $178.00) on shares of McKesson Corporation in a report on Wednesday, November 1st. ValuEngine raised shares of McKesson Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $170.00 price objective on shares of McKesson Corporation in a report on Friday, October 27th. Finally, Mizuho set a $168.00 price objective on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and a consensus price target of $174.27.
McKesson Corporation (NYSE:MCK) traded down $0.57 during trading on Friday, hitting $142.13. 1,827,129 shares of the stock were exchanged, compared to its average volume of 2,731,575. The stock has a market cap of $29,630.55, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21. McKesson Corporation has a twelve month low of $133.82 and a twelve month high of $169.29. 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 Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.94 EPS. equities research analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is 6.45%.
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In related news, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. Insiders sold a total of 950,983 shares of company stock worth $145,560,946 over the last three months. Insiders own 1.20% of the company’s stock.
McKesson Corporation Company 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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