Murphy Capital Management Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,700 shares of the company’s stock after selling 400 shares during the quarter. Murphy Capital Management Inc.’s holdings in McKesson were worth $629,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Bedel Financial Consulting Inc. increased its holdings in McKesson by 165.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock worth $26,000 after acquiring an additional 147 shares in the last quarter. IMS Capital Management purchased a new stake in shares of McKesson during the third quarter worth $57,000. Financial Gravity Companies Inc. purchased a new stake in shares of McKesson during the fourth quarter worth $57,000. Clean Yield Group purchased a new stake in shares of McKesson during the fourth quarter worth $61,000. Finally, Alpha Windward LLC grew its holdings in shares of McKesson by 45.1% during the fourth quarter. Alpha Windward LLC now owns 772 shares of the company’s stock worth $85,000 after buying an additional 240 shares in the last quarter. 91.31% of the stock is owned by institutional investors.
In other McKesson news, EVP Lori A. Schechter sold 7,700 shares of the company’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $122.96, for a total value of $946,792.00. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $1,229,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, January 31st. The company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.22. McKesson had a negative net margin of 0.15% and a positive return on equity of 27.83%. The firm had revenue of $56.21 billion for the quarter, compared to analysts’ expectations of $55.27 billion. During the same quarter in the previous year, the company posted $3.41 EPS. As a group, analysts forecast that McKesson Co. will post 13.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.56 dividend on an annualized basis and a yield of 1.21%. McKesson’s payout ratio is currently 12.36%.
A number of equities research analysts have recently issued reports on MCK shares. Zacks Investment Research raised shares of McKesson from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Barclays reaffirmed a “hold” rating and set a $124.00 target price on shares of McKesson in a report on Sunday, January 6th. ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Deutsche Bank raised shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a report on Friday, January 25th. Finally, Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the stock a “hold” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $137.99.
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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