Fiduciary Group LLC lowered its stake in McKesson Co. (NYSE:MCK) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,081 shares of the company’s stock after selling 160 shares during the period. Fiduciary Group LLC’s holdings in McKesson were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of the company. Reilly Financial Advisors LLC grew its stake in shares of McKesson by 198.5% in the 1st quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 133 shares during the last quarter. Trust Co. of Vermont grew its position in McKesson by 254.2% during the first quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 150 shares during the period. Keebeck Wealth Management LLC purchased a new position in McKesson in the fourth quarter valued at about $29,000. Penserra Capital Management LLC raised its stake in McKesson by 55.6% during the fourth quarter. Penserra Capital Management LLC now owns 210 shares of the company’s stock valued at $30,000 after buying an additional 75 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. 84.96% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MCK traded up $3.60 on Friday, hitting $149.42. 902,930 shares of the company’s stock were exchanged, compared to its average volume of 1,730,228. The firm has a 50-day moving average price of $136.14 and a 200-day moving average price of $142.81. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.99 and a quick ratio of 0.56. McKesson Co. has a 52 week low of $112.60 and a 52 week high of $172.18. The company has a market cap of $25.80 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, May 20th. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $4.10 by $0.17. McKesson had a net margin of 0.39% and a return on equity of 41.07%. The firm had revenue of $58.54 billion for the quarter, compared to analysts’ expectations of $55.60 billion. During the same period in the previous year, the firm posted $3.69 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts expect that McKesson Co. will post 15.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.10%. McKesson’s payout ratio is 10.97%.
A number of analysts have recently issued reports on MCK shares. Cfra reduced their target price on McKesson from $179.00 to $171.00 and set a “buy” rating for the company in a report on Wednesday. Goldman Sachs Group raised McKesson from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $173.00 to $174.00 in a report on Wednesday, March 18th. Credit Suisse Group initiated coverage on shares of McKesson in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $146.00 price objective for the company. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a report on Wednesday. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $164.00 to $197.00 in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $168.50.
In other news, CEO Brian S. Tyler sold 4,063 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $124.77, for a total value of $506,940.51. Following the sale, the chief executive officer now directly owns 16,255 shares of the company’s stock, valued at approximately $2,028,136.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 8,187 shares of company stock worth $1,064,057. 0.88% 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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