Lipe & Dalton lowered its position in shares of McKesson Co. (NYSE:MCK) by 6.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,220 shares of the company’s stock after selling 370 shares during the period. Lipe & Dalton’s holdings in McKesson were worth $702,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC grew its holdings in shares of McKesson by 1,944.4% during the second quarter. Gradient Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in shares of McKesson during the first quarter worth about $27,000. Smart Portfolios LLC purchased a new position in shares of McKesson during the first quarter worth about $35,000. Investors Research Corp purchased a new position in shares of McKesson during the first quarter worth about $36,000. Finally, Asset Dedication LLC grew its holdings in shares of McKesson by 35.2% during the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock worth $46,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
A number of equities analysts recently issued reports on the company. Bank of America set a $160.00 price target on McKesson and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research lowered McKesson from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. ValuEngine raised McKesson from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. initiated coverage on McKesson in a report on Monday, July 22nd. They set an “overweight” rating and a $164.00 price target on the stock. Finally, Credit Suisse Group initiated coverage on McKesson in a report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $147.27.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.27. McKesson had a return on equity of 29.88% and a net margin of 0.27%. The company had revenue of $55.73 billion for the quarter, compared to analyst estimates of $54.03 billion. During the same quarter in the previous year, the company earned $2.90 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities analysts predict that McKesson Co. will post 14.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.41 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 1.11%. McKesson’s payout ratio is 11.50%.
In other news, CEO Brian Scott Tyler sold 1,488 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $125.49, for a total transaction of $186,729.12. Following the sale, the chief executive officer now owns 12,192 shares of the company’s stock, valued at approximately $1,529,974.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Schechter sold 2,766 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total value of $369,509.94. The disclosure for this sale can be found here. Insiders have sold a total of 6,174 shares of company stock worth $804,583 in the last three months. Corporate insiders own 0.88% of the company’s stock.
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.
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