MetLife Investment Advisors LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 64,504 shares of the company’s stock, valued at approximately $10,059,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Synovus Financial Corp increased its position in shares of McKesson by 62.8% during the third 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 period. IFM Investors Pty Ltd bought a new position in shares of McKesson in the third quarter worth approximately $914,000. Legacy Capital Partners Inc. increased its position in shares of McKesson by 11.5% in the fourth quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock worth $515,000 after purchasing an additional 340 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $311,000. Finally, Rhumbline Advisers increased its position in shares of McKesson by 1.3% in the fourth quarter. Rhumbline Advisers now owns 405,094 shares of the company’s stock worth $63,174,000 after purchasing an additional 5,389 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.
In related news, SVP Erin M. Lampert sold 1,413 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.20% of the company’s stock.
Several research firms recently weighed in on MCK. Robert W. Baird restated a “buy” rating and issued a $200.00 price objective on shares of McKesson in a research report on Wednesday, January 17th. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research note on Wednesday, February 14th. Evercore ISI began coverage on McKesson in a research note on Thursday, January 4th. They issued an “outperform” rating and a $179.00 target price for the company. ValuEngine lowered McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Barclays began coverage on McKesson in a research note on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $176.74.
Shares of MCK stock opened at $141.81 on Wednesday. The firm has a market capitalization of $30,459.80, a P/E ratio of 6.28, a PEG ratio of 1.40 and a beta of 1.29. McKesson Co. has a 52 week low of $133.82 and a 52 week high of $178.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.61 and a current ratio of 1.07.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.49. The firm had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 earnings per share. sell-side analysts forecast that McKesson Co. will post 12.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s payout ratio is 6.03%.
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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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