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.
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.
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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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