Advisory Services Network LLC raised its stake in McKesson Co. (NYSE:MCK) by 68.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,182 shares of the company’s stock after buying an additional 1,295 shares during the period. Advisory Services Network LLC’s holdings in McKesson were worth $496,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Wealthcare Advisory Partners LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $155,000. Community Financial Services Group LLC bought a new stake in shares of McKesson during the 4th quarter valued at about $204,000. Biltmore Wealth Management LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $206,000. Sawyer & Company Inc bought a new stake in shares of McKesson during the 4th quarter valued at about $208,000. Finally, Aries Wealth Management bought a new stake in shares of McKesson during the 4th quarter valued at about $218,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
In related news, Chairman John H. Hammergren sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
McKesson Co. (MCK) opened at $148.85 on Wednesday. McKesson Co. has a 52 week low of $133.82 and a 52 week high of $178.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.61 and a current ratio of 1.07. The firm has a market capitalization of $31,030.00, a P/E ratio of 7.16, a P/E/G ratio of 1.37 and a beta of 1.22.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. During the same period in the prior year, the business earned $3.04 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. analysts anticipate that McKesson Co. will post 12.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is currently 6.54%.
Several equities research analysts recently commented on the company. Zacks Investment Research lowered McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. ValuEngine lowered McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Mizuho set a $186.00 target price on McKesson and gave the company a “hold” rating in a research report on Wednesday, January 24th. Robert W. Baird restated a “buy” rating and set a $200.00 target price on shares of McKesson in a research report on Wednesday, January 17th. Finally, Evercore ISI assumed coverage on McKesson in a research report on Thursday, January 4th. They set an “outperform” rating and a $179.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. McKesson currently has an average rating of “Hold” and an average target price of $177.79.
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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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