Murphy Capital Management Inc. trimmed its holdings in McKesson Co. (NYSE:MCK) by 15.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,100 shares of the company’s stock after selling 1,100 shares during the quarter. Murphy Capital Management Inc.’s holdings in McKesson were worth $809,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brandes Investment Partners LP lifted its stake in McKesson by 0.5% in the 2nd quarter. Brandes Investment Partners LP now owns 727,626 shares of the company’s stock worth $97,066,000 after purchasing an additional 3,289 shares in the last quarter. Martingale Asset Management L P lifted its stake in McKesson by 38.6% in the 2nd quarter. Martingale Asset Management L P now owns 6,443 shares of the company’s stock worth $860,000 after purchasing an additional 1,796 shares in the last quarter. Unigestion Holding SA purchased a new position in McKesson in the 2nd quarter worth approximately $35,787,000. MAI Capital Management lifted its stake in McKesson by 15.7% in the 2nd quarter. MAI Capital Management now owns 4,095 shares of the company’s stock worth $546,000 after purchasing an additional 555 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in McKesson by 284.7% in the 2nd quarter. Victory Capital Management Inc. now owns 77,291 shares of the company’s stock worth $10,311,000 after purchasing an additional 57,201 shares in the last quarter. 88.32% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on MCK shares. Royal Bank of Canada decreased their target price on shares of McKesson to $158.00 and set a “market perform” rating on the stock in a research note on Friday, June 29th. Morgan Stanley reduced their price target on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 3rd. Standpoint Research raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Citigroup reduced their price target on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, Robert W. Baird lowered shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. McKesson has a consensus rating of “Hold” and an average target price of $151.99.
MCK stock opened at $135.50 on Thursday. The company has a market cap of $26.50 billion, a PE ratio of 10.74, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.00. McKesson Co. has a one year low of $122.49 and a one year high of $178.86.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, July 26th. The company reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.01. The firm had revenue of $52.61 billion for the quarter, compared to analyst estimates of $52.91 billion. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. Analysts forecast that McKesson Co. will post 13.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were given a $0.39 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, August 31st. This represents a $1.56 dividend on an annualized basis and a yield of 1.15%. McKesson’s payout ratio is presently 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $128.69, for a total value of $173,731.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.87% of the stock is owned by 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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