Zeke Capital Advisors LLC Purchases 1,042 Shares of McKesson Corporation (MCK)
Zeke Capital Advisors LLC boosted its position in McKesson Corporation (NYSE:MCK) by 55.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,907 shares of the company’s stock after purchasing an additional 1,042 shares during the period. Zeke Capital Advisors LLC’s holdings in McKesson were worth $447,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. BlackRock Inc. grew its position in shares of McKesson by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after buying an additional 1,131,024 shares during the last quarter. Vanguard Group Inc. grew its position in shares of McKesson by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock valued at $2,318,457,000 after buying an additional 62,004 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of McKesson by 6.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock valued at $390,217,000 after buying an additional 154,967 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of McKesson by 17.2% in the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after buying an additional 360,676 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of McKesson by 12.7% in the 2nd 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 last quarter. 88.10% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on MCK shares. Needham & Company LLC set a $178.00 price target on McKesson and gave the company a “buy” rating in a research report on Tuesday, October 24th. ValuEngine upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. TheStreet lowered McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Morgan Stanley lowered McKesson from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. Finally, Jefferies Group set a $165.00 target price on McKesson and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $174.27.
Shares of McKesson Corporation (NYSE:MCK) traded down $1.35 during trading hours on Friday, reaching $146.39. The company’s stock had a trading volume of 2,560,714 shares, compared to its average volume of 1,880,070. The company has a market capitalization of $30,520.00, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.52 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 1-year low of $133.82 and a 1-year high of $169.29.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.94 earnings per share. equities research analysts expect that McKesson Corporation will post 12.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.93%. McKesson’s payout ratio is currently 6.44%.
In other McKesson news, CEO John H. Hammergren sold 125,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,900 shares of company stock worth $145,403,445. Corporate insiders own 1.20% of the company’s stock.
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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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