Northwestern Mutual Wealth Management Co. lessened its holdings in McKesson Co. (NYSE:MCK) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,451 shares of the company’s stock after selling 1,766 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners grew its position in McKesson by 54.5% in the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after purchasing an additional 2,200,669 shares in the last quarter. Pzena Investment Management LLC grew its position in McKesson by 7.6% in the 2nd quarter. Pzena Investment Management LLC now owns 2,836,710 shares of the company’s stock worth $378,417,000 after purchasing an additional 201,062 shares in the last quarter. Kiltearn Partners LLP grew its position in McKesson by 6.3% in the 1st quarter. Kiltearn Partners LLP now owns 1,914,898 shares of the company’s stock worth $269,350,000 after purchasing an additional 112,800 shares in the last quarter. Wells Fargo & Company MN grew its position in McKesson by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,859,883 shares of the company’s stock worth $262,000,000 after purchasing an additional 218,530 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in McKesson by 0.6% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,663,100 shares of the company’s stock worth $234,281,000 after purchasing an additional 9,300 shares in the last quarter. Institutional investors own 88.58% of the company’s stock.
In other news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction 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 owned by corporate insiders.
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada reduced 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. ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. 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 downgraded shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Standpoint Research raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. 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 company. McKesson has a consensus rating of “Hold” and a consensus target price of $154.30.
McKesson stock opened at $125.50 on Friday. McKesson Co. has a twelve month low of $122.49 and a twelve month high of $178.86. The company has a market cap of $24.66 billion, a PE ratio of 9.44, a P/E/G ratio of 1.32 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 released its earnings results on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $52.61 billion during the quarter, compared to the consensus estimate of $52.91 billion. During the same period in the prior year, the firm earned $2.47 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. equities analysts expect 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. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.39 per share. 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 dividend yield of 1.24%. The ex-dividend date is Friday, August 31st. McKesson’s dividend payout ratio is currently 12.36%.
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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