Franklin Resources Inc. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 38.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,038 shares of the company’s stock after selling 4,999 shares during the period. Franklin Resources Inc.’s holdings in McKesson were worth $1,254,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Virginia Retirement Systems ET AL bought a new position in McKesson during the 3rd quarter valued at approximately $2,304,000. Trexquant Investment LP bought a new position in McKesson during the 3rd quarter valued at approximately $330,000. BB&T Securities LLC raised its position in McKesson by 10.1% during the 3rd quarter. BB&T Securities LLC now owns 62,731 shares of the company’s stock valued at $9,636,000 after purchasing an additional 5,776 shares during the last quarter. Brown Advisory Inc. raised its position in McKesson by 14.3% during the 3rd quarter. Brown Advisory Inc. now owns 4,672 shares of the company’s stock valued at $718,000 after purchasing an additional 585 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in McKesson by 51.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock valued at $156,273,000 after purchasing an additional 345,865 shares during the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.
McKesson stock opened at $140.87 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $29,066.97, a P/E ratio of 12.13, a P/E/G ratio of 1.34 and a beta of 1.29. McKesson Co. has a twelve month low of $133.82 and a twelve month high of $178.86.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be paid a $0.34 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. McKesson’s payout ratio is currently 11.71%.
Several research analysts have recently issued reports on MCK shares. ValuEngine lowered McKesson from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Evercore ISI started coverage on McKesson in a research report on Thursday, January 4th. They issued an “outperform” rating and a $179.00 target price for the company. Credit Suisse Group reissued a “sell” rating and issued a $130.00 target price on shares of McKesson in a research report on Friday, February 2nd. Barclays started coverage on McKesson in a research report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 target price for the company. Finally, Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 target price for the company in a research report on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. McKesson has a consensus rating of “Hold” and a consensus target price of $176.74.
In related news, SVP Erin M. Lampert sold 1,413 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total value of $211,073.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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