Wealthcare Advisory Partners LLC Takes $155,000 Position in McKesson Co. (MCK)
Wealthcare Advisory Partners LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,010 shares of the company’s stock, valued at approximately $155,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Candriam Luxembourg S.C.A. boosted its stake in shares of McKesson by 130.1% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 31,555 shares of the company’s stock worth $5,192,000 after acquiring an additional 17,840 shares in the last quarter. Korea Investment CORP lifted its stake in McKesson by 0.6% in the 2nd quarter. Korea Investment CORP now owns 131,989 shares of the company’s stock valued at $21,717,000 after buying an additional 732 shares in the last quarter. Nine Chapters Capital Management LLC purchased a new stake in McKesson in the 2nd quarter valued at approximately $280,000. Cambridge Trust Co. raised its holdings in McKesson by 2.4% in the 2nd quarter. Cambridge Trust Co. now owns 10,499 shares of the company’s stock valued at $1,727,000 after acquiring an additional 248 shares during the last quarter. Finally, AT Bancorp raised its holdings in McKesson by 3.7% in the 2nd quarter. AT Bancorp now owns 7,073 shares of the company’s stock valued at $1,164,000 after acquiring an additional 251 shares during the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.
McKesson Co. (NYSE MCK) traded up $0.66 during mid-day trading on Thursday, hitting $155.21. The stock had a trading volume of 1,461,000 shares, compared to its average volume of 1,874,146. The firm has a market cap of $32,219.73, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.58 and a beta of 1.23. 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 Co. has a 1-year low of $133.82 and a 1-year high of $169.29.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.94 EPS. equities analysts forecast that McKesson Co. will post 12.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. McKesson’s payout ratio is 6.45%.
In related news, 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 of the company’s stock, valued at approximately $25,543,650. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at $25,391,850. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 949,000 shares of company stock valued at $145,263,360. 1.20% of the stock is owned by corporate insiders.
Several research analysts have weighed in on MCK shares. Needham & Company LLC set a $178.00 price target on McKesson and gave the company a “buy” rating in a report on Tuesday, October 24th. ValuEngine upgraded McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Deutsche Bank started coverage on McKesson in a report on Monday, December 4th. They issued a “buy” rating and a $175.00 price target for the company. TheStreet downgraded McKesson from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, Morgan Stanley downgraded McKesson from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $184.00 to $172.00 in a report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. McKesson presently has a consensus rating of “Buy” and a consensus target price of $174.31.
McKesson Company Profile
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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