O Shaughnessy Asset Management LLC decreased its position in McKesson Co. (NYSE:MCK) by 68.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 121,001 shares of the company’s stock after selling 264,418 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.06% of McKesson worth $15,994,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Boston Partners grew its holdings in shares of McKesson by 54.5% in the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after purchasing an additional 2,200,669 shares during the last quarter. Mainstay Capital Management LLC ADV grew its holdings in shares of McKesson by 9,884.4% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 565,718 shares of the company’s stock worth $4,422,000 after purchasing an additional 560,052 shares during the last quarter. Vulcan Value Partners LLC grew its holdings in shares of McKesson by 7.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock worth $502,664,000 after purchasing an additional 273,090 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of McKesson in the 2nd quarter worth about $35,787,000. Finally, Millennium Management LLC bought a new stake in shares of McKesson in the 2nd quarter worth about $33,331,000. 89.19% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on MCK. Robert W. Baird lowered shares of McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Citigroup lowered their target price on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a report on Friday, July 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $152.00 target price on shares of McKesson in a report on Friday, July 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $160.00 target price on shares of McKesson in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $150.26.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The firm had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. Analysts expect that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.87% of the stock is owned by corporate insiders.
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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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