NEXT Financial Group Inc Reduces Position in McKesson Co. (MCK)
NEXT Financial Group Inc lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 38.9% in the 4th quarter, HoldingsChannel reports. The fund owned 2,235 shares of the company’s stock after selling 1,424 shares during the quarter. NEXT Financial Group Inc’s holdings in McKesson were worth $349,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Renaissance Technologies LLC purchased a new stake in McKesson during the 2nd quarter valued at about $164,688,000. Baupost Group LLC MA purchased a new stake in McKesson during the 3rd quarter valued at about $76,805,000. Pzena Investment Management LLC grew its stake in McKesson by 17.2% during the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after acquiring an additional 360,676 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in McKesson by 51.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock valued at $156,273,000 after acquiring an additional 345,865 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in McKesson by 2,499.1% during the 2nd quarter. Sterling Capital Management LLC now owns 355,560 shares of the company’s stock valued at $58,504,000 after acquiring an additional 341,880 shares in the last quarter. 87.91% of the stock is owned by institutional investors.
Shares of McKesson Co. (NYSE:MCK) opened at $170.66 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm has a market cap of $34,658.89, a P/E ratio of 8.09, a PEG ratio of 1.70 and a beta of 1.23. McKesson Co. has a one year low of $133.82 and a one year high of $171.83.
McKesson (NYSE:MCK) last posted 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 during 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 firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $2.94 EPS. sell-side analysts forecast that McKesson Co. will post 12.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.80%. McKesson’s payout ratio is currently 6.45%.
Several analysts recently issued reports on MCK shares. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a research note on Tuesday, December 26th. Deutsche Bank started coverage on shares of McKesson in a research note on Monday, December 4th. They set a “buy” rating and a $175.00 price objective for the company. Needham & Company LLC set a $179.00 price objective on shares of McKesson and gave the company a “buy” rating in a research note on Monday, October 16th. ValuEngine raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $170.00 price target on shares of McKesson in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. McKesson presently has an average rating of “Hold” and a consensus target price of $174.64.
In related news, Chairman John H. Hammergren sold 65,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
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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