Hikari Tsushin Inc. increased its position in McKesson Co. (NYSE:MCK) by 219.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,100 shares of the company’s stock after acquiring an additional 2,130 shares during the quarter. Hikari Tsushin Inc.’s holdings in McKesson were worth $437,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new stake in McKesson in the 4th quarter worth approximately $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in McKesson by 176.6% during the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock valued at $130,000 after buying an additional 491 shares in the last quarter. Certified Advisory Corp grew its holdings in McKesson by 86.8% during the 1st quarter. Certified Advisory Corp now owns 964 shares of the company’s stock valued at $135,000 after buying an additional 448 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in McKesson by 61.5% during the 1st quarter. Jacobi Capital Management LLC now owns 985 shares of the company’s stock valued at $138,000 after buying an additional 375 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new stake in McKesson during the 1st quarter valued at approximately $142,000. 90.08% of the stock is owned by institutional investors.
A number of brokerages have issued reports on MCK. Leerink Swann set a $160.00 price objective on shares of McKesson and gave the company a “market perform” rating in a report on Tuesday, May 29th. Zacks Investment Research lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. ValuEngine lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Bank of America began coverage on shares of McKesson in a report on Tuesday, February 27th. They set a “buy” rating and a $179.00 price objective for the company. Finally, Barclays began coverage on shares of McKesson in a report on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $174.91.
Shares of NYSE MCK traded up $1.45 during midday trading on Thursday, reaching $150.97. 23,755 shares of the stock traded hands, compared to its average volume of 1,766,264. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 1.01. The company has a market capitalization of $29.34 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.34 and a beta of 1.26. McKesson Co. has a one year low of $134.25 and a one year high of $178.86.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 24th. The company reported $3.49 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.07). The firm had revenue of $51.63 billion for the quarter, compared to the consensus estimate of $51.36 billion. McKesson had a net margin of 0.03% and a return on equity of 23.55%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.41 earnings per share. equities analysts predict that McKesson Co. will post 13.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. McKesson’s dividend payout ratio is currently 10.78%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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