PNC Financial Services Group Inc. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 11.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 95,627 shares of the company’s stock after selling 12,200 shares during the period. PNC Financial Services Group Inc. owned 0.05% of McKesson worth $12,935,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harvest Fund Management Co. Ltd increased its position in McKesson by 1,476.3% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,529 shares of the company’s stock valued at $206,000 after purchasing an additional 1,432 shares during the period. Swiss National Bank increased its position in McKesson by 7.6% during the 1st quarter. Swiss National Bank now owns 627,091 shares of the company’s stock valued at $84,820,000 after purchasing an additional 44,150 shares during the period. First Allied Advisory Services Inc. increased its position in McKesson by 42.5% during the 1st quarter. First Allied Advisory Services Inc. now owns 5,847 shares of the company’s stock valued at $791,000 after purchasing an additional 1,745 shares during the period. Oppenheimer & Co. Inc. increased its position in McKesson by 45.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,759 shares of the company’s stock valued at $508,000 after purchasing an additional 1,173 shares during the period. Finally, Kays Financial Advisory Corp ADV increased its position in McKesson by 4.8% during the 1st quarter. Kays Financial Advisory Corp ADV now owns 26,233 shares of the company’s stock valued at $3,548,000 after purchasing an additional 1,198 shares during the period. 84.96% of the stock is currently owned by institutional investors and hedge funds.
MCK stock opened at $149.42 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 1.51. McKesson Co. has a 52 week low of $112.60 and a 52 week high of $172.18. The firm has a 50 day moving average of $136.14 and a 200 day moving average of $142.81. The stock has a market capitalization of $25.80 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $4.27 EPS for the quarter, beating the consensus estimate of $4.10 by $0.17. McKesson had a net margin of 0.39% and a return on equity of 41.07%. The business had revenue of $58.54 billion during the quarter, compared to analysts’ expectations of $55.60 billion. During the same period in the previous year, the business posted $3.69 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 15.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, May 29th. McKesson’s payout ratio is 10.97%.
In related news, CEO Brian S. Tyler sold 4,063 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total value of $548,505.00. Following the completion of the transaction, the chief executive officer now directly owns 16,255 shares in the company, valued at approximately $2,194,425. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 8,187 shares of company stock valued at $1,064,057. Company insiders own 0.88% of the company’s stock.
A number of brokerages have recently issued reports on MCK. Credit Suisse Group began coverage on shares of McKesson in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $146.00 price objective on the stock. Cowen lifted their price objective on shares of McKesson from $174.00 to $186.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank cut their price objective on shares of McKesson from $173.00 to $169.00 and set a “hold” rating on the stock in a research report on Thursday. Mizuho lifted their price objective on shares of McKesson from $140.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wolfe Research raised shares of McKesson from a “peer perform” rating to an “outperform” rating and set a $184.00 price objective on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. McKesson presently has a consensus rating of “Buy” and an average target price of $168.50.
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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