Captrust Financial Advisors bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,840 shares of the company’s stock, valued at approximately $2,788,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Synovus Financial Corp grew its position in McKesson by 62.8% in the 3rd quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock valued at $890,000 after buying an additional 2,238 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in McKesson in the 3rd quarter valued at $914,000. Legacy Capital Partners Inc. grew its position in McKesson by 11.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock valued at $515,000 after buying an additional 340 shares during the last quarter. HL Financial Services LLC grew its position in McKesson by 14.5% in the 3rd quarter. HL Financial Services LLC now owns 7,478 shares of the company’s stock valued at $1,149,000 after buying an additional 945 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its position in McKesson by 4.3% in the 3rd quarter. Banque Pictet & Cie SA now owns 45,632 shares of the company’s stock valued at $7,010,000 after buying an additional 1,895 shares during the last quarter. Institutional investors and hedge funds own 88.91% of the company’s stock.
A number of equities analysts recently weighed in on MCK shares. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research report on Tuesday, February 20th. Credit Suisse Group reiterated a “sell” rating and issued a $130.00 price objective on shares of McKesson in a research report on Friday, February 2nd. ValuEngine lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America started coverage on shares of McKesson in a research report on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price objective on the stock. Finally, Jefferies Group upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price objective on the stock in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. McKesson has a consensus rating of “Hold” and a consensus price target of $176.74.
McKesson (NYSE:MCK) last released its earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The company had revenue of $53.62 billion during the quarter, compared to the consensus estimate of $51.98 billion. During the same quarter last year, the company earned $3.04 earnings per share. McKesson’s quarterly revenue was up 7.0% compared to the same quarter last year. equities research analysts expect that McKesson Co. will post 12.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is currently 6.54%.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 1,413 shares of McKesson stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total value of $211,073.94. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
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McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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