McKesson Co. (MCK) Holdings Increased by Verition Fund Management LLC
Verition Fund Management LLC grew its holdings in McKesson Co. (NYSE:MCK) by 731.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,167 shares of the company’s stock after purchasing an additional 22,139 shares during the period. Verition Fund Management LLC’s holdings in McKesson were worth $3,357,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Boston Partners increased its stake in shares of McKesson by 54.5% during the second quarter. Boston Partners now owns 6,237,042 shares of the company’s stock valued at $832,021,000 after buying an additional 2,200,669 shares during the period. Vulcan Value Partners LLC increased its stake in shares of McKesson by 7.8% during the second quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock valued at $502,664,000 after buying an additional 273,090 shares during the period. Pzena Investment Management LLC increased its stake in shares of McKesson by 7.6% during the second quarter. Pzena Investment Management LLC now owns 2,836,710 shares of the company’s stock valued at $378,417,000 after buying an additional 201,062 shares during the period. Kiltearn Partners LLP increased its stake in shares of McKesson by 6.3% during the first quarter. Kiltearn Partners LLP now owns 1,914,898 shares of the company’s stock valued at $269,350,000 after buying an additional 112,800 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of McKesson by 0.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,663,100 shares of the company’s stock valued at $234,281,000 after buying an additional 9,300 shares during the period. Institutional investors and hedge funds own 88.28% of the company’s stock.
MCK opened at $131.78 on Tuesday. McKesson Co. has a 1 year low of $122.49 and a 1 year high of $178.86. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.00. The stock has a market capitalization of $25.68 billion, a price-to-earnings ratio of 10.44, a P/E/G ratio of 1.37 and a beta of 1.25.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from McKesson’s previous quarterly dividend of $0.34. McKesson’s payout ratio is 12.36%.
MCK has been the topic of several research reports. ValuEngine lowered McKesson from a “hold” rating to a “sell” rating in a research note on Tuesday, May 22nd. Leerink Swann set a $160.00 price target on McKesson and gave the company a “market perform” rating in a research note on Tuesday, May 29th. Royal Bank of Canada cut their price target on McKesson to $158.00 and set a “market perform” rating on the stock in a research note on Friday, June 29th. Morgan Stanley cut their price target on McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Finally, Standpoint Research upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $154.30.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.87% of the stock is owned by insiders.
McKesson Company Profile
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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