FDx Advisors Inc. boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,255 shares of the company’s stock after buying an additional 2,025 shares during the period. FDx Advisors Inc.’s holdings in McKesson Corporation were worth $2,497,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of MCK. BlackRock Inc. lifted its stake in McKesson Corporation by 8.0% during the second quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after purchasing an additional 1,131,024 shares during the last quarter. Vanguard Group Inc. lifted its stake in McKesson Corporation by 0.4% during the second quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after purchasing an additional 62,004 shares during the last quarter. Ballentine Partners LLC bought a new stake in McKesson Corporation during the first quarter worth about $191,000. Pzena Investment Management LLC lifted its stake in McKesson Corporation by 17.2% during the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after purchasing an additional 360,676 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in McKesson Corporation by 3.5% during the first quarter. Geode Capital Management LLC now owns 2,305,453 shares of the company’s stock worth $341,366,000 after purchasing an additional 77,704 shares during the last quarter. 85.95% of the stock is owned by institutional investors.
In other news, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders have sold a total of 950,983 shares of company stock worth $145,560,946 over the last three months. Insiders own 1.20% of the company’s stock.
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A number of research firms have recently weighed in on MCK. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a research note on Monday, July 17th. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Jefferies Group LLC set a $165.00 target price on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, August 29th. Mizuho set a $168.00 target price on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a $130.00 target price (down previously from $155.00) on shares of McKesson Corporation in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $174.27.
McKesson Corporation (NYSE MCK) traded down $2.50 during mid-day trading on Friday, reaching $137.61. The company had a trading volume of 2,088,200 shares, compared to its average volume of 2,610,866. The company has a market cap of $28,688.25, a PE ratio of 11.32, a PEG ratio of 1.41 and a beta of 1.21. McKesson Corporation has a fifty-two week low of $133.82 and a fifty-two week high of $169.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion for the quarter, compared to analysts’ expectations of $51.69 billion. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 EPS. analysts predict that McKesson Corporation will post 12.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. McKesson Corporation’s payout ratio is 6.45%.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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