Montecito Bank & Trust lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,721 shares of the company’s stock after selling 166 shares during the quarter. Montecito Bank & Trust’s holdings in McKesson were worth $501,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mark Sheptoff Financial Planning LLC acquired a new position in shares of McKesson in the first quarter valued at approximately $27,000. Smart Portfolios LLC acquired a new position in shares of McKesson in the first quarter valued at approximately $35,000. Investors Research Corp acquired a new position in shares of McKesson in the first quarter valued at approximately $36,000. Dubuque Bank & Trust Co. grew its position in shares of McKesson by 106.7% in the first quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock valued at $40,000 after purchasing an additional 176 shares during the last quarter. Finally, Bremer Bank National Association acquired a new position in shares of McKesson in the first quarter valued at approximately $49,000. 88.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MCK stock traded down $0.65 during trading on Tuesday, hitting $138.11. The company had a trading volume of 721,134 shares, compared to its average volume of 1,461,538. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. The company has a market cap of $25.63 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.46 and a beta of 1.11. The stock’s 50-day simple moving average is $135.97. McKesson Co. has a one year low of $106.11 and a one year high of $148.23.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.03. The business had revenue of $52.43 billion during the quarter, compared to analysts’ expectations of $53.14 billion. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.49 earnings per share. On average, analysts predict that McKesson Co. will post 14.15 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 31st. McKesson’s payout ratio is presently 11.50%.
In other McKesson news, CFO Britt J. Vitalone sold 832 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $129.17, for a total transaction of $107,469.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian Scott Tyler sold 1,488 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $125.49, for a total value of $186,729.12. Following the sale, the chief executive officer now owns 12,192 shares of the company’s stock, valued at $1,529,974.08. The disclosure for this sale can be found here. Insiders have sold 6,174 shares of company stock valued at $804,583 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Several equities analysts have recently commented on the company. Guggenheim assumed coverage on Adaptive Biotechnologies in a research report on Monday. They issued a “buy” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday. Zacks Investment Research downgraded Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Wolfe Research assumed coverage on Iqvia in a research report on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Finally, ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $147.27.
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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