Hexavest Inc. Acquires 5,564 Shares of McKesson Co. (MCK)
Hexavest Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 430,828 shares of the company’s stock after purchasing an additional 5,564 shares during the quarter. Hexavest Inc.’s holdings in McKesson were worth $67,188,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ingalls & Snyder LLC lifted its stake in McKesson by 76.7% in the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after acquiring an additional 7,352 shares during the last quarter. Whittier Trust Co. lifted its stake in McKesson by 1.5% in the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock worth $9,649,000 after acquiring an additional 898 shares during the last quarter. River & Mercantile Asset Management LLP lifted its stake in McKesson by 278.6% in the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock worth $27,321,000 after acquiring an additional 130,852 shares during the last quarter. Cypress Capital Management LLC lifted its stake in McKesson by 77.4% in the second quarter. Cypress Capital Management LLC now owns 3,861 shares of the company’s stock worth $635,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in McKesson by 62.8% in the third quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock worth $890,000 after acquiring an additional 2,238 shares during the last quarter. 87.88% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on the stock. Royal Bank of Canada assumed coverage on shares of McKesson in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price target for the company. Evercore ISI assumed coverage on shares of McKesson in a research note on Thursday, January 4th. They issued an “outperform” rating and a $179.00 price target for the company. Jefferies Group set a $165.00 price objective on shares of McKesson and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Cowen upgraded shares of McKesson from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $176.00 to $189.00 in a research report on Tuesday, October 10th. Finally, ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $174.64.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.
Shares of McKesson Co. (MCK) traded up $1.63 during trading hours on Friday, hitting $162.30. 1,544,100 shares of the stock traded hands, compared to its average volume of 1,452,225. The stock has a market cap of $34,570.00, a P/E ratio of 7.69, a PEG ratio of 1.61 and a beta of 1.23. 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 Co. has a twelve month low of $133.82 and a twelve month high of $169.29.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 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 analysts’ expectations of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.94 EPS. equities research analysts expect that McKesson Co. will post 12.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.84%. McKesson’s payout ratio is 6.44%.
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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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