Tiaa Fsb trimmed its position in shares of McKesson Co. (NYSE:MCK) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,182 shares of the company’s stock after selling 1,614 shares during the quarter. Tiaa Fsb’s holdings in McKesson were worth $2,596,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in MCK. Quadrant Capital Group LLC raised its position in shares of McKesson by 5.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,784 shares of the company’s stock worth $190,000 after acquiring an additional 96 shares during the last quarter. Courier Capital LLC increased its holdings in McKesson by 4.0% in the fourth quarter. Courier Capital LLC now owns 2,614 shares of the company’s stock worth $289,000 after purchasing an additional 100 shares in the last quarter. Certified Advisory Corp increased its holdings in McKesson by 12.6% in the fourth quarter. Certified Advisory Corp now owns 1,089 shares of the company’s stock worth $120,000 after purchasing an additional 122 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in McKesson by 25.9% in the first quarter. Valeo Financial Advisors LLC now owns 627 shares of the company’s stock worth $73,000 after purchasing an additional 129 shares in the last quarter. Finally, Old North State Trust LLC increased its holdings in McKesson by 53.3% in the fourth quarter. Old North State Trust LLC now owns 391 shares of the company’s stock worth $43,000 after purchasing an additional 136 shares in the last quarter. 86.60% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a report on Tuesday. Wolfe Research assumed coverage on McKesson in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. UBS Group assumed coverage on McKesson in a report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 target price for the company. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Finally, Barclays reiterated a “hold” rating and issued a $130.00 target price on shares of McKesson in a report on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $134.90.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, January 31st. The company reported $3.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.22. The company had revenue of $56.21 billion for the quarter, compared to analysts’ expectations of $55.27 billion. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. During the same quarter in the previous year, the firm earned $3.41 earnings per share. As a group, research analysts predict that McKesson Co. will post 13.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.56 annualized dividend and a dividend yield of 1.34%. McKesson’s payout ratio is 12.36%.
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.
Further Reading: Percentage Decliners
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