M&T Bank Corp lowered its stake in shares of McKesson Co. (NYSE:MCK) by 24.4% during the 4th quarter, HoldingsChannel reports. The fund owned 28,576 shares of the company’s stock after selling 9,222 shares during the quarter. M&T Bank Corp’s holdings in McKesson were worth $3,158,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Nordea Investment Management AB increased its holdings in McKesson by 48.8% in the 3rd quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock worth $437,856,000 after buying an additional 1,082,398 shares during the period. Pzena Investment Management LLC increased its holdings in McKesson by 11.4% in the 3rd quarter. Pzena Investment Management LLC now owns 3,160,195 shares of the company’s stock worth $419,200,000 after buying an additional 323,485 shares during the period. Baupost Group LLC MA increased its holdings in McKesson by 33.7% in the 3rd quarter. Baupost Group LLC MA now owns 2,175,700 shares of the company’s stock worth $288,607,000 after buying an additional 548,000 shares during the period. Kiltearn Partners LLP increased its holdings in McKesson by 9.1% in the 3rd quarter. Kiltearn Partners LLP now owns 2,040,651 shares of the company’s stock worth $270,692,000 after buying an additional 170,753 shares during the period. Finally, American Century Companies Inc. increased its holdings in McKesson by 13.6% in the 3rd quarter. American Century Companies Inc. now owns 1,735,496 shares of the company’s stock worth $230,214,000 after buying an additional 207,533 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.
In other news, EVP Lori A. Schechter sold 7,700 shares of the stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total transaction of $946,792.00. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $1,229,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.87% of the company’s stock.
Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $144.00 price target on the stock in a report on Monday, February 4th. Barclays reiterated a “hold” rating and issued a $130.00 price target on shares of McKesson in a report on Friday, February 1st. Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research report on Friday, January 25th. Finally, UBS Group assumed coverage on McKesson in a research report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. McKesson presently has a consensus rating of “Hold” and a consensus price target of $137.99.
McKesson stock opened at $128.49 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.02. McKesson Co. has a 12 month low of $106.11 and a 12 month high of $160.87. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.34 and a beta of 1.25.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, January 31st. The company reported $3.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.18 by $0.22. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. The business had revenue of $56.21 billion for the quarter, compared to analyst estimates of $55.27 billion. During the same quarter in the prior year, the firm posted $3.41 EPS. Sell-side analysts expect that McKesson Co. will post 13.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, February 28th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.21%. McKesson’s dividend payout ratio (DPR) is 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.
Further Reading: Mutual Funds
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