Nisa Investment Advisors LLC cut its stake in McKesson Co. (NYSE:MCK) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,301 shares of the company’s stock after selling 4,850 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McKesson were worth $14,236,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MCK. Sawyer & Company Inc purchased a new position in McKesson in the 4th quarter worth approximately $208,000. Founders Capital Management LLC lifted its stake in McKesson by 1.6% in the 4th quarter. Founders Capital Management LLC now owns 40,209 shares of the company’s stock worth $6,271,000 after purchasing an additional 617 shares in the last quarter. DnB Asset Management AS lifted its stake in McKesson by 90.8% in the 4th quarter. DnB Asset Management AS now owns 46,032 shares of the company’s stock worth $7,179,000 after purchasing an additional 21,900 shares in the last quarter. Carlson Capital Management lifted its stake in McKesson by 52.6% in the 4th quarter. Carlson Capital Management now owns 3,161 shares of the company’s stock worth $493,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in McKesson by 7.1% in the 3rd quarter. Prudential Financial Inc. now owns 446,814 shares of the company’s stock worth $68,636,000 after purchasing an additional 29,658 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by company insiders.
Shares of McKesson Co. (NYSE:MCK) opened at $166.25 on Friday. The stock has a market cap of $34,660.00, a P/E ratio of 7.88, a PEG ratio of 1.66 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Co. has a 1-year low of $133.82 and a 1-year high of $169.29.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.94 EPS. research analysts forecast that McKesson Co. will post 12.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a dividend of $0.34 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.82%. McKesson’s dividend payout ratio is currently 6.44%.
A number of research firms have weighed in on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $175.00 to $178.00 in a research note on Tuesday, September 19th. Mizuho set a $168.00 target price on shares of McKesson and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC set a $179.00 target price on shares of McKesson and gave the stock a “buy” rating in a research note on Monday, October 16th. Cowen raised shares of McKesson from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $176.00 to $189.00 in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada began coverage on shares of McKesson in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $174.64.
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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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