Synovus Financial Corp Has $736,000 Holdings in McKesson Co. (MCK)

Synovus Financial Corp raised its stake in shares of McKesson Co. (NYSE:MCK) by 11.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,525 shares of the company’s stock after purchasing an additional 562 shares during the period. Synovus Financial Corp’s holdings in McKesson were worth $736,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Boston Partners boosted its stake in McKesson by 54.5% during the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock valued at $832,021,000 after purchasing an additional 2,200,669 shares during the last quarter. Vulcan Value Partners LLC boosted its stake in McKesson by 7.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock valued at $502,664,000 after purchasing an additional 273,090 shares during the last quarter. Pzena Investment Management LLC boosted its stake in McKesson by 7.6% during the 2nd quarter. Pzena Investment Management LLC now owns 2,836,710 shares of the company’s stock valued at $378,417,000 after purchasing an additional 201,062 shares during the last quarter. American Century Companies Inc. boosted its stake in McKesson by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 1,527,963 shares of the company’s stock valued at $203,830,000 after purchasing an additional 212,675 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in McKesson by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,424,630 shares of the company’s stock valued at $190,107,000 after purchasing an additional 46,386 shares during the last quarter. Institutional investors and hedge funds own 89.19% of the company’s stock.

NYSE:MCK opened at $132.72 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $25.13 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.46 and a beta of 1.05. McKesson Co. has a 12 month low of $117.19 and a 12 month high of $178.86.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. The company had revenue of $53.08 billion for the quarter, compared to analysts’ expectations of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. As a group, sell-side analysts expect that McKesson Co. will post 13.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. McKesson’s dividend payout ratio (DPR) is presently 12.36%.

Several equities analysts have commented on the stock. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Royal Bank of Canada reissued a “hold” rating and set a $152.00 target price on shares of McKesson in a research report on Friday, July 27th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Barclays dropped their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $160.00 target price on shares of McKesson in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $150.26.

In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

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McKesson 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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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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