McKesson Corporation (MCK) Holdings Reduced by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 841,384 shares of the company’s stock after selling 203,025 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.40% of McKesson worth $129,245,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MCK. Ingalls & Snyder LLC boosted its position in shares of McKesson by 76.7% during the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock valued at $2,602,000 after buying an additional 7,352 shares during the period. Whittier Trust Co. boosted its position in shares of McKesson by 1.5% during the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after buying an additional 898 shares during the period. Wells Fargo & Company MN boosted its position in shares of McKesson by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after buying an additional 239,358 shares during the period. River & Mercantile Asset Management LLP boosted its position in shares of McKesson by 278.6% during the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after buying an additional 130,852 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd boosted its position in shares of McKesson by 194.3% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after buying an additional 19,450 shares during the period. 88.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corporation (NYSE MCK) traded up $0.37 during trading hours on Thursday, reaching $148.12. 3,283,200 shares of the company were exchanged, compared to its average volume of 1,873,252. The company has a market capitalization of $30,802.11, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. 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 has a 52 week low of $133.82 and a 52 week high of $169.29.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same period in the prior year, the firm posted $2.94 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The company 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 $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s payout ratio is 6.45%.
In other McKesson news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,543,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,900 shares of company stock worth $145,403,445. 1.20% of the stock is owned by insiders.
Several brokerages have issued reports on MCK. Royal Bank Of Canada began coverage on McKesson in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price for the company. Jefferies Group set a $165.00 price target on McKesson and gave the company a “hold” rating in a report on Wednesday, October 18th. Cowen upgraded McKesson from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $176.00 to $189.00 in a report on Tuesday, October 10th. Needham & Company LLC set a $179.00 price target on McKesson and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub lowered McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $174.27.
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McKesson 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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