Twin Capital Management Inc. boosted its holdings in McKesson Co. (NYSE:MCK) by 14.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,227 shares of the company’s stock after buying an additional 6,867 shares during the period. Twin Capital Management Inc.’s holdings in McKesson were worth $7,100,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. James Hambro & Partners grew its stake in McKesson by 141.6% in the 2nd quarter. James Hambro & Partners now owns 877 shares of the company’s stock valued at $117,000 after buying an additional 514 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in McKesson in the 1st quarter valued at approximately $138,000. Archford Capital Strategies LLC purchased a new position in McKesson in the 1st quarter valued at approximately $142,000. Cerebellum GP LLC purchased a new position in McKesson in the 2nd quarter valued at approximately $174,000. Finally, Squar Milner Financial Services LLC purchased a new position in McKesson in the 2nd quarter valued at approximately $179,000. Institutional investors and hedge funds own 88.58% of the company’s stock.
A number of research analysts have recently commented on MCK shares. ValuEngine lowered 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 set a $160.00 price target on shares of McKesson in a research report on Friday, July 27th. Leerink Swann set a $160.00 price target on shares of McKesson and gave the company a “market perform” rating in a research report on Tuesday, May 29th. Robert W. Baird lowered shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada reduced their price target 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 research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $154.30.
MCK opened at $123.46 on Thursday. McKesson Co. has a one year low of $122.49 and a one year high of $178.86. The firm has a market cap of $25.72 billion, a PE ratio of 9.78, a PEG ratio of 1.37 and a beta of 1.25. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $52.91 billion. During the same period in the previous year, the business earned $2.47 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. sell-side analysts forecast that McKesson Co. will post 13.33 EPS for the current fiscal year.
The business also recently announced 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 a positive change from McKesson’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a yield of 1.26%. McKesson’s payout ratio is 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently 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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