Tibra Equities Europe Ltd acquired a new stake in McKesson Co. (NYSE:MCK) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,900 shares of the company’s stock, valued at approximately $1,490,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. Thomasville National Bank acquired a new stake in McKesson during the second quarter worth approximately $224,000. Fulton Bank N.A. grew its stake in McKesson by 3.6% in the second quarter. Fulton Bank N.A. now owns 9,210 shares of the company’s stock valued at $1,238,000 after acquiring an additional 321 shares during the period. WINTON GROUP Ltd grew its stake in McKesson by 80.2% in the second quarter. WINTON GROUP Ltd now owns 158,980 shares of the company’s stock valued at $21,365,000 after acquiring an additional 70,735 shares during the period. Carroll Financial Associates Inc. grew its stake in McKesson by 10.8% in the second quarter. Carroll Financial Associates Inc. now owns 1,107 shares of the company’s stock valued at $148,000 after acquiring an additional 108 shares during the period. Finally, Empowered Funds LLC acquired a new stake in McKesson in the second quarter valued at approximately $2,274,000. 87.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on MCK shares. Bank of America set a $160.00 price objective on McKesson and gave the company a “buy” rating in a research note on Wednesday, July 31st. Cleveland Research reissued a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Credit Suisse Group initiated coverage on McKesson in a report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 target price on the stock. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, August 30th. Finally, Deutsche Bank initiated coverage on McKesson in a report on Thursday, September 12th. They issued a “hold” rating and a $155.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $146.33.
In related news, CEO Brian S. Tyler sold 6,000 shares of McKesson stock in a transaction on Monday, September 30th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the sale, the chief executive officer now directly owns 18,192 shares in the company, valued at $2,455,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lori A. Schechter sold 1,275 shares of McKesson stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $150.00, for a total value of $191,250.00. Following the sale, the executive vice president now owns 1,275 shares in the company, valued at $191,250. The disclosure for this sale can be found here. Insiders have sold 10,197 shares of company stock worth $1,422,929 over the last quarter. 0.88% of the stock is currently owned by corporate insiders.
Shares of MCK stock traded up $2.25 during trading hours on Friday, reaching $139.56. The company had a trading volume of 435,175 shares, compared to its average volume of 1,960,704. McKesson Co. has a 12 month low of $106.11 and a 12 month high of $153.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.57. The business has a fifty day simple moving average of $139.70 and a 200-day simple moving average of $136.14. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.
McKesson (NYSE:MCK) last posted its earnings results on Wednesday, October 30th. The company reported $3.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $3.60. McKesson had a positive return on equity of 32.77% and a negative net margin of 0.29%. The company had revenue of $57.62 billion for the quarter, compared to analyst estimates of $55.06 billion. During the same quarter last year, the company earned $3.60 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 14.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.41 per share. The ex-dividend date is Friday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.18%. McKesson’s dividend payout ratio (DPR) is currently 12.09%.
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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