Stephens Inc. AR cut its holdings in shares of McKesson Co. (NYSE:MCK) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,780 shares of the company’s stock after selling 608 shares during the quarter. Stephens Inc. AR’s holdings in McKesson were worth $1,838,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. James Hambro & Partners grew its position in shares of McKesson by 141.6% during the 2nd quarter. James Hambro & Partners now owns 877 shares of the company’s stock worth $117,000 after purchasing an additional 514 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in McKesson in the 1st quarter valued at approximately $138,000. Archford Capital Strategies LLC bought a new position in McKesson in the 1st quarter valued at approximately $142,000. Cerebellum GP LLC bought a new position in McKesson in the 2nd quarter valued at approximately $174,000. Finally, Squar Milner Financial Services LLC bought a new position in McKesson in the 2nd quarter valued at approximately $179,000. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by company insiders.
Several equities analysts have issued reports on the stock. ValuEngine cut shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Jefferies Financial Group restated a “buy” rating and issued a $160.00 price target on shares of McKesson in a research report on Friday, July 27th. Leerink Swann set a $160.00 price objective on shares of McKesson and gave the stock a “market perform” rating in a research report on Tuesday, May 29th. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada decreased their price objective on shares of McKesson to $158.00 and set a “market perform” rating for the company in a research report on Friday, June 29th. 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. The company currently has a consensus rating of “Hold” and a consensus price target of $154.30.
MCK opened at $123.46 on Thursday. 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 fifty-two week low of $122.49 and a fifty-two week high of $178.86. The stock has a market cap of $25.72 billion, a P/E ratio of 9.78, a PEG ratio of 1.37 and a beta of 1.25.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.01. The company 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 firm’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. equities research analysts predict that McKesson Co. will post 13.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be given a $0.39 dividend. The ex-dividend date is Friday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a yield of 1.26%. McKesson’s dividend payout ratio (DPR) is currently 12.36%.
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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