Foster & Motley Inc. lessened its stake in McKesson Co. (NYSE:MCK) by 26.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,283 shares of the company’s stock after selling 8,535 shares during the period. Foster & Motley Inc.’s holdings in McKesson were worth $3,089,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Brandes Investment Partners LP grew its position in McKesson by 0.5% in the 2nd quarter. Brandes Investment Partners LP now owns 727,626 shares of the company’s stock worth $97,066,000 after purchasing an additional 3,289 shares during the period. MAI Capital Management grew its position in McKesson by 15.7% in the 2nd quarter. MAI Capital Management now owns 4,095 shares of the company’s stock worth $546,000 after purchasing an additional 555 shares during the period. Martingale Asset Management L P grew its position in McKesson by 38.6% in the 2nd quarter. Martingale Asset Management L P now owns 6,443 shares of the company’s stock worth $860,000 after purchasing an additional 1,796 shares during the period. Unigestion Holding SA bought a new stake in McKesson in the 2nd quarter worth approximately $35,787,000. Finally, Victory Capital Management Inc. grew its position in McKesson by 284.7% in the 2nd quarter. Victory Capital Management Inc. now owns 77,291 shares of the company’s stock worth $10,311,000 after purchasing an additional 57,201 shares during the period. 88.17% of the stock is owned by institutional investors and hedge funds.
Shares of McKesson stock opened at $124.76 on Thursday. The firm has a market cap of $24.25 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. McKesson Co. has a 1-year low of $117.19 and a 1-year high of $178.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.56 and a current ratio of 0.99.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid 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 of this dividend is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is 12.36%.
In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.
A number of research firms have commented on MCK. Robert W. Baird downgraded shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Royal Bank of Canada reiterated a “hold” rating and set a $152.00 price target on shares of McKesson in a research note on Friday, July 27th. Barclays dropped their price target on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Finally, Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. McKesson has an average rating of “Hold” and an average price target of $150.26.
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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