Lingohr & Partner Asset Management GmbH trimmed its position in McKesson Co. (NYSE:MCK) by 3.6% during the first quarter, HoldingsChannel reports. The firm owned 8,096 shares of the company’s stock after selling 300 shares during the quarter. Lingohr & Partner Asset Management GmbH’s holdings in McKesson were worth $943,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of MCK. Oregon Public Employees Retirement Fund lifted its holdings in shares of McKesson by 8,651.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,416,267 shares of the company’s stock valued at $76,000 after purchasing an additional 8,320,093 shares in the last quarter. Norges Bank bought a new stake in shares of McKesson in the fourth quarter valued at about $215,791,000. CI Investments Inc. bought a new stake in shares of McKesson in the fourth quarter valued at about $150,620,000. Pzena Investment Management LLC lifted its holdings in shares of McKesson by 19.7% in the first quarter. Pzena Investment Management LLC now owns 3,683,196 shares of the company’s stock valued at $431,155,000 after purchasing an additional 606,781 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of McKesson by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,519,367 shares of the company’s stock valued at $609,725,000 after purchasing an additional 435,844 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.
A number of analysts have recently commented on the company. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $144.00 target price on the stock in a research report on Monday, February 4th. Barclays reaffirmed a “hold” rating and issued a $130.00 target price on shares of McKesson in a research report on Friday, February 1st. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research report on Friday, January 25th. Finally, Wolfe Research started coverage on McKesson in a research report on Tuesday, April 2nd. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. McKesson currently has an average rating of “Hold” and an average target price of $134.90.
McKesson (NYSE:MCK) last released its earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.03. The business had revenue of $52.43 billion for the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a return on equity of 29.02% and a net margin of 0.02%. McKesson’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 earnings per share. As a group, equities analysts predict that McKesson Co. will post 14.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.50%.
In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of the business’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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is owned by insiders.
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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