Advisor Partners LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 9.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,656 shares of the company’s stock after purchasing an additional 397 shares during the quarter. Advisor Partners LLC’s holdings in McKesson were worth $636,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Securian Asset Management Inc boosted its holdings in shares of McKesson by 0.4% in the second quarter. Securian Asset Management Inc now owns 19,633 shares of the company’s stock valued at $2,638,000 after acquiring an additional 70 shares during the period. YHB Investment Advisors Inc. boosted its holdings in shares of McKesson by 2.3% in the third quarter. YHB Investment Advisors Inc. now owns 3,605 shares of the company’s stock valued at $493,000 after acquiring an additional 80 shares during the period. National Asset Management Inc. boosted its holdings in shares of McKesson by 3.9% in the second quarter. National Asset Management Inc. now owns 2,239 shares of the company’s stock valued at $302,000 after acquiring an additional 85 shares during the period. Asset Dedication LLC boosted its holdings in shares of McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after acquiring an additional 90 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in shares of McKesson by 2.2% in the second quarter. Miracle Mile Advisors LLC now owns 4,350 shares of the company’s stock valued at $585,000 after acquiring an additional 92 shares during the period. 86.63% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Sundeep G. Reddy sold 422 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $143.79, for a total transaction of $60,679.38. Following the completion of the sale, the senior vice president now owns 1,268 shares in the company, valued at $182,325.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Christine Jacobs sold 1,296 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $146.65, for a total value of $190,058.40. The disclosure for this sale can be found here. Insiders have sold 11,493 shares of company stock valued at $1,612,988 in the last 90 days. Company insiders own 0.88% of the company’s stock.
McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.27. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The business had revenue of $55.73 billion during the quarter, compared to analysts’ expectations of $54.03 billion. During the same quarter in the prior year, the business earned $2.90 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 14.39 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.39. McKesson’s dividend payout ratio is 12.09%.
MCK has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on McKesson in a report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price objective for the company. TheStreet raised McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. Wolfe Research downgraded McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, August 30th. Finally, Cleveland Research reissued a “hold” rating on shares of McKesson in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $147.20.
McKesson Company Profile
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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