McKesson Co. (MCK) Holdings Lifted by BB&T Securities LLC
BB&T Securities LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 5.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,085 shares of the company’s stock after purchasing an additional 4,369 shares during the quarter. BB&T Securities LLC’s holdings in McKesson were worth $11,883,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of MCK. Altavista Wealth Management Inc. raised its position in shares of McKesson by 2.2% in the 1st quarter. Altavista Wealth Management Inc. now owns 15,836 shares of the company’s stock worth $2,231,000 after buying an additional 335 shares during the period. Raymond James Trust N.A. raised its position in shares of McKesson by 2.5% in the 2nd quarter. Raymond James Trust N.A. now owns 15,079 shares of the company’s stock worth $2,012,000 after buying an additional 371 shares during the period. World Asset Management Inc raised its position in shares of McKesson by 2.8% in the 2nd quarter. World Asset Management Inc now owns 14,154 shares of the company’s stock worth $1,888,000 after buying an additional 384 shares during the period. OLD National Bancorp IN raised its position in shares of McKesson by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 8,573 shares of the company’s stock worth $1,144,000 after buying an additional 397 shares during the period. Finally, Brinker Capital Inc. raised its position in shares of McKesson by 5.5% in the 1st quarter. Brinker Capital Inc. now owns 7,926 shares of the company’s stock worth $1,117,000 after buying an additional 415 shares during the period. 88.58% of the stock is currently owned by institutional investors.
Shares of McKesson stock opened at $129.74 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.57. The stock has a market cap of $25.07 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. McKesson Co. has a 1-year low of $122.49 and a 1-year high of $178.86.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.20%. McKesson’s dividend payout ratio (DPR) is currently 12.36%.
Several brokerages recently issued reports on MCK. Mizuho reiterated a “hold” rating and issued a $133.00 price target on shares of McKesson in a report on Sunday, August 12th. JPMorgan Chase & Co. lowered their price target on McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $160.00 price target on shares of McKesson in a report on Friday, July 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 price target on shares of McKesson in a report on Friday, July 27th. Finally, Robert W. Baird downgraded McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $154.30.
In other news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by company insiders.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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