Occidental Asset Management LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 30.1% in the second quarter, Holdings Channel reports. The firm owned 5,764 shares of the company’s stock after acquiring an additional 1,333 shares during the quarter. Occidental Asset Management LLC’s holdings in McKesson were worth $775,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in McKesson by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,663,926 shares of the company’s stock worth $183,813,000 after acquiring an additional 214,284 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of McKesson by 25.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 627 shares of the company’s stock worth $73,000 after buying an additional 129 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of McKesson by 7.4% in the 1st quarter. DAVENPORT & Co LLC now owns 2,190 shares of the company’s stock worth $256,000 after buying an additional 150 shares during the last quarter. Exchange Capital Management Inc. increased its holdings in shares of McKesson by 81.6% in the 1st quarter. Exchange Capital Management Inc. now owns 14,863 shares of the company’s stock worth $1,740,000 after buying an additional 6,680 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of McKesson by 1.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 99,993 shares of the company’s stock worth $11,705,000 after buying an additional 1,122 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.
In other news, Director M Christine Jacobs sold 1,296 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $146.65, for a total value of $190,058.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 832 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $129.17, for a total transaction of $107,469.44. The disclosure for this sale can be found here. Insiders sold a total of 4,704 shares of company stock valued at $625,131 in the last ninety days. 0.88% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 6th. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Wolfe Research lowered shares of McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Finally, Credit Suisse Group assumed coverage on shares of McKesson in a report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $148.70.
Shares of McKesson stock traded down $0.65 during trading on Thursday, reaching $141.21. The company’s stock had a trading volume of 29,550 shares, compared to its average volume of 1,553,776. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $149.99. The company has a market cap of $26.38 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.13. The firm has a 50-day simple moving average of $140.30. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.27. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The company had revenue of $55.73 billion during the quarter, compared to analysts’ expectations of $54.03 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, analysts predict that McKesson Co. will post 14.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.41 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.16%. McKesson’s dividend payout ratio is 11.50%.
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.
Further Reading: What is meant by a buy rating?
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