Toronto Dominion Bank raised its position in shares of McKesson Corporation (NYSE:MCK) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,712 shares of the company’s stock after buying an additional 8,725 shares during the quarter. Toronto Dominion Bank’s holdings in McKesson Corporation were worth $13,628,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Caisse DE Depot ET Placement DU Quebec grew its holdings in McKesson Corporation by 23.8% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,263,600 shares of the company’s stock valued at $187,545,000 after buying an additional 242,803 shares in the last quarter. Schwerin Boyle Capital Management Inc. boosted its holdings in shares of McKesson Corporation by 104.0% in the 1st quarter. Schwerin Boyle Capital Management Inc. now owns 51,000 shares of the company’s stock worth $7,561,000 after purchasing an additional 26,000 shares during the period. BlackRock Inc. boosted its holdings in shares of McKesson Corporation by 2,026.2% in the 1st quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after purchasing an additional 13,531,173 shares during the period. Epoch Investment Partners Inc. boosted its holdings in shares of McKesson Corporation by 13.9% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,736,056 shares of the company’s stock worth $257,387,000 after purchasing an additional 211,451 shares during the period. Finally, Invictus RG boosted its holdings in shares of McKesson Corporation by 57.5% in the 1st quarter. Invictus RG now owns 3,242 shares of the company’s stock worth $481,000 after purchasing an additional 1,183 shares during the period. Institutional investors and hedge funds own 85.93% of the company’s stock.
In related news, Director M Christine Jacobs sold 1,083 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total transaction of $157,500.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated 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 ninety days. 1.20% of the stock is currently owned by corporate insiders.
McKesson Corporation (NYSE MCK) traded up $0.44 on Tuesday, hitting $138.05. The stock had a trading volume of 2,289,800 shares, compared to its average volume of 1,843,149. The company has a market cap of $28,688.18, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 52-week low of $133.82 and a 52-week high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The company had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same period in the prior year, the company posted $2.94 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio is currently 6.45%.
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A number of brokerages have recently commented on MCK. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a report on Monday, July 17th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Jefferies Group LLC set a $165.00 price objective on McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Mizuho set a $168.00 price objective on McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, Needham & Company LLC set a $179.00 price objective on McKesson Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $174.27.
McKesson Corporation Profile
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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