Toronto Dominion Bank trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,128 shares of the company’s stock after selling 11,573 shares during the period. Toronto Dominion Bank owned about 0.08% of McKesson worth $18,827,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Gradient Investments LLC grew its holdings in McKesson by 1,944.4% during the second quarter. Gradient Investments LLC now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 175 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in McKesson in the first quarter valued at approximately $27,000. Berman Capital Advisors LLC grew its holdings in McKesson by 175.2% in the second quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock valued at $37,000 after purchasing an additional 184 shares during the period. Asset Dedication LLC grew its holdings in McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares during the period. Finally, Cornerstone Advisors Inc. grew its holdings in McKesson by 168.8% in the second quarter. Cornerstone Advisors Inc. now owns 387 shares of the company’s stock valued at $52,000 after purchasing an additional 243 shares during the period. 86.44% of the stock is currently owned by hedge funds and other institutional investors.
MCK has been the topic of several research analyst reports. Wolfe Research lowered McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. TheStreet raised McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, August 27th. Cleveland Research reissued a “hold” rating on shares of McKesson in a report on Thursday, September 5th. Finally, Bank of America set a $160.00 price objective on McKesson and gave the company a “buy” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $147.20.
In other news, SVP Sundeep G. Reddy sold 422 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the transaction, the senior vice president now owns 1,268 shares in the company, valued at $182,325.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 1,296 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $146.65, for a total value of $190,058.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,218 shares of company stock worth $611,738. Company insiders own 0.88% of the company’s stock.
Shares of NYSE MCK traded down $1.09 during midday trading on Friday, hitting $145.01. The stock had a trading volume of 1,009,678 shares, compared to its average volume of 1,550,759. The company has a market capitalization of $26.90 billion, a PE ratio of 10.69, a P/E/G ratio of 1.44 and a beta of 1.13. The stock has a 50 day simple moving average of $142.48 and a 200-day simple moving average of $130.02. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $150.82. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14.
McKesson (NYSE:MCK) last released its earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.27. The business had revenue of $55.73 billion for the quarter, compared to the consensus estimate of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.90 earnings per share. As a group, analysts expect that McKesson Co. will post 14.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.39. McKesson’s dividend payout ratio (DPR) is 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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