Dana Investment Advisors Inc. Has $2.50 Million Holdings in McKesson Co. (MCK)
Dana Investment Advisors Inc. lowered its stake in McKesson Co. (NYSE:MCK) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,246 shares of the company’s stock after selling 430 shares during the quarter. Dana Investment Advisors Inc.’s holdings in McKesson were worth $2,496,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IHT Wealth Management LLC raised its holdings in shares of McKesson by 64.2% in the 2nd quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after acquiring an additional 190 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of McKesson in the 2nd quarter valued at about $107,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of McKesson in the 2nd quarter valued at about $125,000. WFG Advisors LP raised its holdings in shares of McKesson by 5.0% in the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after acquiring an additional 41 shares in the last quarter. Finally, Atwood & Palmer Inc. purchased a new stake in shares of McKesson in the 2nd quarter valued at about $165,000. Institutional investors and hedge funds own 88.10% of the company’s stock.
Shares of McKesson Co. (NYSE:MCK) traded up $1.99 during mid-day trading on Friday, hitting $157.20. The stock had a trading volume of 2,443,400 shares, compared to its average volume of 1,876,508. The company has a market cap of $32,357.33, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.59 and a beta of 1.23. McKesson Co. has a 12-month low of $133.82 and a 12-month high of $169.29. 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 (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The firm 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 business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $2.94 EPS. research analysts forecast that McKesson Co. will post 12.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.87%. McKesson’s dividend payout ratio is presently 6.45%.
In related news, CEO John H. Hammergren sold 125,000 shares of McKesson stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John H. Hammergren sold 99,000 shares of McKesson stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the sale, the chief executive officer now owns 165,000 shares in the company, valued at $25,391,850. The disclosure for this sale can be found here. Insiders have sold 949,000 shares of company stock worth $145,263,360 over the last 90 days. 1.20% of the stock is currently owned by corporate insiders.
MCK has been the topic of several recent analyst reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Mizuho set a $168.00 price target on McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. TheStreet cut McKesson from a “b” rating to a “c+” rating in a report on Friday, August 25th. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Credit Suisse Group reissued an “underperform” rating and set a $130.00 price objective (down from $155.00) on shares of McKesson in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. McKesson currently has an average rating of “Buy” and an average price target of $174.31.
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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