First Allied Advisory Services Inc. lifted its position in McKesson Co. (NYSE:MCK) by 42.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,847 shares of the company’s stock after purchasing an additional 1,745 shares during the quarter. First Allied Advisory Services Inc.’s holdings in McKesson were worth $791,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MCK. Pzena Investment Management LLC grew its position in McKesson by 3.1% in the fourth quarter. Pzena Investment Management LLC now owns 3,760,595 shares of the company’s stock worth $520,166,000 after acquiring an additional 114,261 shares during the period. Geode Capital Management LLC lifted its stake in shares of McKesson by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,905,608 shares of the company’s stock valued at $401,103,000 after purchasing an additional 65,330 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of McKesson by 21.4% during the 4th quarter. AQR Capital Management LLC now owns 2,766,586 shares of the company’s stock worth $379,797,000 after purchasing an additional 487,887 shares during the period. Norges Bank acquired a new stake in shares of McKesson during the 4th quarter worth about $272,827,000. Finally, Nuveen Asset Management LLC raised its holdings in McKesson by 4.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,664,305 shares of the company’s stock valued at $230,206,000 after buying an additional 67,581 shares during the period. Hedge funds and other institutional investors own 84.96% of the company’s stock.
A number of equities research analysts have weighed in on MCK shares. Guggenheim upgraded shares of McKesson from a “neutral” rating to a “buy” rating in a research report on Friday, March 13th. Cowen lifted their target price on shares of McKesson from $174.00 to $186.00 and gave the company an “outperform” rating in a report on Thursday. Credit Suisse Group began coverage on McKesson in a research report on Wednesday, April 22nd. They issued a “neutral” rating and a $146.00 target price on the stock. Wolfe Research upgraded McKesson from a “peer perform” rating to an “outperform” rating and set a $184.00 price target for the company in a research report on Friday. Finally, Morgan Stanley lifted their price objective on McKesson from $150.00 to $163.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. McKesson currently has an average rating of “Buy” and an average price target of $168.50.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, May 20th. The company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.10 by $0.17. McKesson had a return on equity of 41.07% and a net margin of 0.39%. The company had revenue of $58.54 billion for the quarter, compared to analyst estimates of $55.60 billion. During the same quarter last year, the company earned $3.69 EPS. McKesson’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 15.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.10%. McKesson’s dividend payout ratio is currently 10.97%.
In other McKesson news, CEO Brian S. Tyler sold 4,063 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total transaction of $548,505.00. Following the completion of the transaction, the chief executive officer now owns 16,255 shares in the company, valued at approximately $2,194,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 8,187 shares of company stock valued at $1,064,057 in the last quarter. 0.88% of the stock is currently owned by company insiders.
McKesson Company Profile
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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