FDx Advisors Inc. decreased its holdings in McKesson Co. (NYSE:MCK) by 29.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,685 shares of the company’s stock after selling 5,208 shares during the period. FDx Advisors Inc.’s holdings in McKesson were worth $1,683,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of MCK. Fort L.P. purchased a new stake in shares of McKesson during the 2nd quarter worth $110,000. Flagship Harbor Advisors LLC purchased a new stake in shares of McKesson during the 2nd quarter worth $118,000. Reilly Financial Advisors LLC lifted its position in shares of McKesson by 506.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $119,000 after purchasing an additional 750 shares during the last quarter. Bray Capital Advisors purchased a new stake in shares of McKesson during the 3rd quarter worth $123,000. Finally, FNY Investment Advisers LLC lifted its position in shares of McKesson by 88.6% during the 3rd quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock worth $148,000 after purchasing an additional 526 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.
MCK has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. Mizuho reaffirmed a “hold” rating and set a $133.00 price objective on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 price objective on shares of McKesson and gave the stock a “hold” rating in a research report on Friday, October 26th. Finally, ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $150.26.
Shares of MCK opened at $127.01 on Friday. McKesson Co. has a 1-year low of $117.19 and a 1-year high of $178.86. The firm has a market capitalization of $24.84 billion, a P/E ratio of 10.06, a P/E/G ratio of 1.44 and a beta of 1.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The firm had revenue of $53.08 billion during the quarter, compared to analysts’ expectations of $53.56 billion. As a group, sell-side analysts predict that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.23%. McKesson’s dividend payout ratio (DPR) is presently 12.36%.
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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