Investment House LLC lowered its stake in McKesson Co. (NYSE:MCK) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,676 shares of the company’s stock after selling 1,055 shares during the quarter. Investment House LLC’s holdings in McKesson were worth $6,187,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of McKesson by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after buying an additional 154,967 shares during the period. Pzena Investment Management LLC grew its position in shares of McKesson by 17.2% during the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after buying an additional 360,676 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of McKesson by 0.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,785,700 shares of the company’s stock worth $275,455,000 after buying an additional 5,000 shares during the period. Nordea Investment Management AB lifted its holdings in shares of McKesson by 0.7% in the 3rd quarter. Nordea Investment Management AB now owns 1,379,609 shares of the company’s stock worth $211,922,000 after purchasing an additional 9,281 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of McKesson by 2.8% in the 3rd quarter. Legal & General Group Plc now owns 1,361,681 shares of the company’s stock worth $209,181,000 after purchasing an additional 37,547 shares in the last quarter. 86.63% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman John H. Hammergren sold 65,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.49. The firm had revenue of $53.62 billion for the quarter, compared to analysts’ expectations of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. equities analysts forecast that McKesson Co. will post 12.71 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be paid a $0.34 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.92%. McKesson’s dividend payout ratio is currently 6.03%.
A number of equities analysts recently issued reports on MCK shares. Needham & Company LLC reiterated a “buy” rating and issued a $173.00 target price (down from $178.00) on shares of McKesson in a report on Wednesday, November 1st. ValuEngine cut McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group set a $165.00 target price on McKesson and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Evercore ISI initiated coverage on McKesson in a research note on Thursday, January 4th. They set an “outperform” rating and a $179.00 target price on the stock. Finally, Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a report on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $177.50.
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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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