Regentatlantic Capital LLC reduced its stake in McKesson Co. (NYSE:MCK) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,083 shares of the company’s stock after selling 96 shares during the period. Regentatlantic Capital LLC’s holdings in McKesson were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of MCK. FMR LLC boosted its stake in shares of McKesson by 16.7% in the 1st quarter. FMR LLC now owns 5,094,147 shares of the company’s stock valued at $596,321,000 after purchasing an additional 727,954 shares in the last quarter. Pzena Investment Management LLC boosted its position in McKesson by 19.7% during the 1st quarter. Pzena Investment Management LLC now owns 3,683,196 shares of the company’s stock worth $431,155,000 after buying an additional 606,781 shares during the period. Ruffer LLP boosted its position in McKesson by 84.1% during the 1st quarter. Ruffer LLP now owns 1,173,583 shares of the company’s stock worth $137,373,000 after buying an additional 536,114 shares during the period. BNP Paribas Arbitrage SA boosted its position in McKesson by 117.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 463,099 shares of the company’s stock worth $54,210,000 after buying an additional 249,938 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in McKesson by 14.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,663,926 shares of the company’s stock worth $183,813,000 after buying an additional 214,284 shares during the period. Institutional investors own 88.90% of the company’s stock.
Several equities research analysts recently commented on MCK shares. Wolfe Research downgraded shares of McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday. ValuEngine upgraded shares of McKesson from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 8th. TheStreet upgraded shares of McKesson from a “c” rating to a “b” rating in a research report on Wednesday, July 31st. Credit Suisse Group started coverage on shares of McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $143.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on shares of McKesson in a research report on Monday, July 22nd. They set an “overweight” rating and a $164.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $147.27.
McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.27. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The firm had revenue of $55.73 billion during the quarter, compared to analyst estimates of $54.03 billion. During the same quarter last year, the business earned $2.90 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 14.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.41 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 30th. This represents a $1.64 annualized dividend and a yield of 1.12%. McKesson’s dividend payout ratio (DPR) is presently 11.50%.
In other McKesson news, CEO Brian Scott Tyler sold 1,488 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $125.49, for a total transaction of $186,729.12. Following the completion of the transaction, the chief executive officer now owns 12,192 shares in the company, valued at approximately $1,529,974.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lori A. Schechter sold 2,766 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total transaction of $369,509.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,174 shares of company stock valued at $804,583. Company insiders own 0.88% of the company’s stock.
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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