Greylin Investment Mangement Inc. purchased a new stake in McKesson Co. (NYSE:MCK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,702 shares of the company’s stock, valued at approximately $233,000.
Several other institutional investors have also recently modified their holdings of MCK. Nuveen Asset Management LLC lifted its holdings in shares of McKesson by 573.3% in the second quarter. Nuveen Asset Management LLC now owns 1,811,727 shares of the company’s stock valued at $243,478,000 after purchasing an additional 1,542,644 shares in the last quarter. FMR LLC raised its holdings in McKesson by 16.7% during the first quarter. FMR LLC now owns 5,094,147 shares of the company’s stock worth $596,321,000 after acquiring an additional 727,954 shares in the last quarter. Royal Bank of Canada raised its holdings in McKesson by 111.4% during the second quarter. Royal Bank of Canada now owns 733,978 shares of the company’s stock worth $98,640,000 after acquiring an additional 386,734 shares in the last quarter. BlackRock Inc. raised its holdings in McKesson by 2.1% during the second quarter. BlackRock Inc. now owns 15,097,053 shares of the company’s stock worth $2,028,894,000 after acquiring an additional 308,554 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in McKesson by 9,927.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 202,550 shares of the company’s stock worth $23,711,000 after acquiring an additional 200,530 shares in the last quarter. Institutional investors own 86.62% of the company’s stock.
In other news, SVP Sundeep G. Reddy sold 422 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the transaction, the senior vice president now owns 1,268 shares of the company’s stock, valued at $182,325.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Christine Jacobs sold 1,296 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $146.65, for a total value of $190,058.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,218 shares of company stock worth $1,421,738. Company insiders own 0.88% of the company’s stock.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.27. The firm had revenue of $55.73 billion for the quarter, compared to the consensus estimate of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.90 earnings per share. On average, analysts forecast that McKesson Co. will post 14.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is 12.09%.
Several analysts recently issued reports on MCK shares. TheStreet upgraded McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. Bank of America set a $160.00 target price on McKesson and gave the stock a “buy” rating in a report on Wednesday, July 31st. Cleveland Research reiterated a “hold” rating on shares of McKesson in a report on Thursday, September 5th. Deutsche Bank started coverage on McKesson in a report on Thursday, September 12th. They set a “hold” rating and a $155.00 target price on the stock. Finally, ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $147.20.
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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