Webster Bank N. A. lessened its position in shares of McKesson Co. (NYSE:MCK) by 15.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405 shares of the company’s stock after selling 75 shares during the period. Webster Bank N. A.’s holdings in McKesson were worth $56,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. DNB Asset Management AS increased its holdings in McKesson by 74.4% during the 4th quarter. DNB Asset Management AS now owns 35,670 shares of the company’s stock worth $4,934,000 after purchasing an additional 15,219 shares in the last quarter. BKD Wealth Advisors LLC bought a new position in McKesson during the 4th quarter worth about $200,000. Advisors Capital Management LLC bought a new position in McKesson during the 4th quarter worth about $219,000. LFA Lugano Financial Advisors SA bought a new position in McKesson during the 4th quarter worth about $83,000. Finally, Contravisory Investment Management Inc. bought a new position in McKesson during the 4th quarter worth about $4,914,000. Hedge funds and other institutional investors own 87.26% of the company’s stock.
A number of equities analysts have issued reports on MCK shares. UBS Group cut McKesson to a “sell” rating and set a $147.00 target price for the company. in a report on Thursday, January 9th. TheStreet cut McKesson from a “b” rating to a “c-” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upgraded McKesson from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $135.00 to $162.00 in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.78.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.60 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.60. The company had revenue of $57.62 billion during the quarter, compared to analysts’ expectations of $55.06 billion. McKesson had a positive return on equity of 32.77% and a negative net margin of 0.29%. McKesson’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.60 EPS. On average, sell-side analysts expect that McKesson Co. will post 14.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 29th. McKesson’s payout ratio is 12.09%.
In other news, EVP Lori A. Schechter sold 1,275 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $150.00, for a total value of $191,250.00. Following the completion of the transaction, the executive vice president now owns 1,275 shares in the company, valued at approximately $191,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is owned by company insiders.
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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