Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in McKesson Corporation (NYSE:MCK) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,916 shares of the company’s stock after selling 628 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in McKesson Corporation were worth $7,668,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC increased its stake in McKesson Corporation by 76.7% in the 3rd quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock valued at $2,602,000 after purchasing an additional 7,352 shares in the last quarter. Whittier Trust Co. increased its stake in McKesson Corporation by 1.5% in the 3rd quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after purchasing an additional 898 shares in the last quarter. Wells Fargo & Company MN increased its stake in McKesson Corporation by 12.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after purchasing an additional 239,358 shares in the last quarter. River & Mercantile Asset Management LLP increased its stake in McKesson Corporation by 278.6% in the 3rd quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after purchasing an additional 130,852 shares in the last quarter. Finally, Dai Ichi Life Insurance Company Ltd increased its stake in McKesson Corporation by 194.3% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after purchasing an additional 19,450 shares in the last quarter. 85.93% of the stock is owned by hedge funds and other institutional investors.
In related news, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $153.53, for a total value of $15,353,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 950,983 shares of company stock worth $145,560,946. Corporate insiders own 1.20% of the company’s stock.
MCK has been the topic of a number of analyst reports. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Mizuho set a $168.00 target price on McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, ValuEngine upgraded McKesson Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Two 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 presently has an average rating of “Hold” and an average price target of $174.27.
McKesson Corporation (MCK) traded up $2.69 during trading hours on Thursday, reaching $138.86. The company’s stock had a trading volume of 3,334,000 shares, compared to its average volume of 1,848,262. McKesson Corporation has a one year low of $133.82 and a one year high of $169.29. The stock has a market capitalization of $28,950.00, a price-to-earnings ratio of 11.20, a PEG ratio of 1.40 and a beta of 1.21. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.
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, topping the Zacks’ 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 business had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same period in the previous year, the company earned $2.94 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts predict that McKesson Corporation will post 12.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s payout ratio is 6.44%.
McKesson Corporation Company 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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