Sompo Japan Nipponkoa Asset Management CO. LTD. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 43.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,360 shares of the company’s stock after acquiring an additional 8,000 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in McKesson were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of MCK. Fort L.P. bought a new stake in shares of McKesson in the 2nd quarter valued at about $110,000. Flagship Harbor Advisors LLC bought a new stake in shares of McKesson in the 2nd quarter valued at about $118,000. Reilly Financial Advisors LLC boosted its holdings in shares of McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after buying an additional 750 shares in the last quarter. Bray Capital Advisors bought a new stake in shares of McKesson in the 3rd quarter valued at about $123,000. Finally, FNY Investment Advisers LLC boosted its holdings in shares of McKesson by 88.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after buying an additional 526 shares in the last quarter. Institutional investors own 89.19% of the company’s stock.
A number of analysts have recently weighed in on the stock. Barclays lowered their price target on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Royal Bank of Canada set a $155.00 price target on shares of McKesson and gave the company a “hold” rating in a report on Friday, October 26th. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, October 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $150.26.
Shares of McKesson stock opened at $130.81 on Friday. The company has a market capitalization of $25.93 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.51 and a beta of 1.05. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. McKesson Co. has a 52 week low of $117.19 and a 52 week high of $178.86.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.32. The firm had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. Analysts expect that McKesson Co. will post 13.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, November 30th. McKesson’s payout ratio is currently 12.36%.
In related 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 value of $173,731.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.
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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