Evercore Wealth Management LLC Sells 907 Shares of McKesson Co. (MCK)

Evercore Wealth Management LLC lowered its stake in McKesson Co. (NYSE:MCK) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 55,412 shares of the company’s stock after selling 907 shares during the period. Evercore Wealth Management LLC’s holdings in McKesson were worth $7,350,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boston Partners grew its position in McKesson by 54.5% in the second quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after acquiring an additional 2,200,669 shares in the last quarter. Vulcan Value Partners LLC grew its position in McKesson by 7.8% in the second quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock worth $502,664,000 after acquiring an additional 273,090 shares in the last quarter. Pzena Investment Management LLC grew its position in McKesson by 11.4% in the third quarter. Pzena Investment Management LLC now owns 3,160,195 shares of the company’s stock worth $419,200,000 after acquiring an additional 323,485 shares in the last quarter. Baupost Group LLC MA grew its position in McKesson by 33.7% in the third quarter. Baupost Group LLC MA now owns 2,175,700 shares of the company’s stock worth $288,607,000 after acquiring an additional 548,000 shares in the last quarter. Finally, Kiltearn Partners LLP grew its position in McKesson by 9.1% in the third quarter. Kiltearn Partners LLP now owns 2,040,651 shares of the company’s stock worth $270,692,000 after acquiring an additional 170,753 shares in the last quarter. Institutional investors own 85.46% of the company’s stock.

Shares of NYSE:MCK opened at $126.40 on Friday. McKesson Co. has a 1 year low of $117.19 and a 1 year high of $178.86. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 10.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.



McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The business had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. Analysts anticipate that McKesson Co. will post 13.41 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio is presently 12.36%.

Several research analysts recently commented on MCK shares. Mizuho reiterated a “hold” rating and issued a $133.00 price target on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 target price on McKesson and gave the company a “hold” rating in a research report on Friday, October 26th. Barclays dropped their target price on McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Finally, Morgan Stanley dropped their target price on McKesson from $142.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $147.63.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://dakotafinancialnews.com/2018/12/07/evercore-wealth-management-llc-sells-907-shares-of-mckesson-co-mck.html.

About McKesson

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.

Featured Story: Beta

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply