Victory Capital Management Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 284.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,291 shares of the company’s stock after purchasing an additional 57,201 shares during the quarter. Victory Capital Management Inc.’s holdings in McKesson were worth $10,311,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of MCK. Boston Partners boosted its stake in shares of McKesson by 122.4% in the first quarter. Boston Partners now owns 4,036,373 shares of the company’s stock valued at $568,604,000 after purchasing an additional 2,221,241 shares during the period. Swedbank purchased a new position in McKesson in the first quarter worth approximately $86,764,000. Unigestion Holding SA purchased a new position in McKesson in the second quarter worth approximately $35,787,000. Natixis lifted its stake in McKesson by 478.0% in the first quarter. Natixis now owns 303,831 shares of the company’s stock worth $42,801,000 after acquiring an additional 251,267 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in McKesson by 91.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 501,791 shares of the company’s stock worth $70,688,000 after acquiring an additional 240,357 shares during the last quarter. 89.73% of the stock is owned by institutional investors and hedge funds.
MCK stock opened at $130.65 on Tuesday. 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 twelve month low of $122.63 and a twelve month high of $178.86. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 1.37 and a beta of 1.22.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.01. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The company had revenue of $52.61 billion for the quarter, compared to analysts’ expectations of $52.91 billion. During the same quarter last year, the company earned $2.47 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts predict that McKesson Co. will post 13.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.56 dividend on an annualized basis and a yield of 1.19%. This is a boost from McKesson’s previous quarterly dividend of $0.34. McKesson’s dividend payout ratio (DPR) is presently 10.78%.
In other McKesson news, SVP Erin M. Lampert sold 868 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total transaction of $123,256.00. Following the sale, the senior vice president now owns 64 shares of the company’s stock, valued at $9,088. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.
MCK has been the subject of a number of recent research reports. Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 price target on shares of McKesson in a research note on Friday, July 27th. Morgan Stanley decreased their price target on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 3rd. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, Mizuho reiterated a “hold” rating and issued a $133.00 price target on shares of McKesson in a research note on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $154.30.
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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