Tocqueville Asset Management L.P. grew its holdings in shares of McKesson Co. (NYSE:MCK) by 7.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 49,215 shares of the company’s stock after acquiring an additional 3,406 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in McKesson were worth $6,528,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MCK. Fort L.P. acquired a new position in McKesson during the 2nd quarter worth $110,000. Flagship Harbor Advisors LLC acquired a new position in McKesson during the 2nd quarter worth $118,000. Reilly Financial Advisors LLC raised its stake in shares of McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock worth $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 worth $123,000. Finally, FNY Investment Advisers LLC raised its stake 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 worth $148,000 after buying an additional 526 shares in the last quarter. Institutional investors own 85.46% of the company’s stock.
A number of analysts have recently commented on the company. Barclays dropped their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Morgan Stanley dropped their price objective on McKesson from $142.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday, December 3rd. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the stock a “hold” rating in a research note on Friday, October 26th. Mizuho reissued a “hold” rating and issued a $133.00 price objective on shares of McKesson in a research note on Sunday, August 12th. Finally, ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $147.63.
MCK opened at $124.94 on Friday. The firm has a market capitalization of $24.70 billion, a PE ratio of 9.90, a PEG ratio of 1.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.56 and a current ratio of 0.99. McKesson Co. has a one year low of $117.19 and a one year high of $178.86.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. The company had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. On average, research analysts forecast that McKesson Co. will post 13.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 12.36%.
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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