Great West Life Assurance Co. Can lessened its stake in McKesson Co. (NYSE:MCK) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 495,842 shares of the company’s stock after selling 27,453 shares during the period. Great West Life Assurance Co. Can owned approximately 0.31% of McKesson worth $72,274,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MCK. Keebeck Wealth Management LLC purchased a new position in shares of McKesson during the 2nd quarter worth $32,000. RMR Wealth Builders purchased a new position in shares of McKesson during the 2nd quarter worth $37,000. Glassman Wealth Services lifted its stake in shares of McKesson by 393.5% during the 3rd quarter. Glassman Wealth Services now owns 306 shares of the company’s stock valued at $46,000 after buying an additional 244 shares in the last quarter. Crewe Advisors LLC lifted its stake in shares of McKesson by 69.2% during the 3rd quarter. Crewe Advisors LLC now owns 313 shares of the company’s stock valued at $47,000 after buying an additional 128 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new position in shares of McKesson during the 2nd quarter valued at $50,000. 86.55% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on MCK. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 19th. Morgan Stanley lifted their target price on shares of McKesson from $204.00 to $219.00 and gave the company an “overweight” rating in a research note on Wednesday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $187.00 to $198.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Barclays upgraded shares of McKesson from an “equal weight” rating to an “overweight” rating and set a $166.00 target price on the stock in a research note on Monday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of McKesson from $202.00 to $222.00 and gave the stock a “buy” rating in a research note on Wednesday, November 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $183.86.
In related news, CFO Britt J. Vitalone sold 6,324 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $165.00, for a total transaction of $1,043,460.00. Following the transaction, the chief financial officer now directly owns 9,229 shares in the company, valued at approximately $1,522,785. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.28% of the company’s stock.
McKesson stock opened at $180.00 on Monday. The company’s 50-day moving average price is $163.20 and its 200-day moving average price is $154.36. McKesson Co. has a twelve month low of $112.60 and a twelve month high of $187.67. The company has a quick ratio of 0.57, a current ratio of 0.99 and a debt-to-equity ratio of 0.96. The company has a market cap of $28.90 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.81.
McKesson (NYSE:MCK) last posted its earnings results on Sunday, November 8th. The company reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.93. McKesson had a net margin of 0.95% and a return on equity of 45.52%. The firm had revenue of $60.81 billion for the quarter, compared to the consensus estimate of $59.35 billion. During the same period in the previous year, the firm posted $3.60 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Co. will post 16.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.68 annualized dividend and a yield of 0.93%. McKesson’s payout ratio is 11.24%.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
See Also: What is the LIBOR?
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.