IFG Advisory LLC reduced its holdings in McKesson Co. (NYSE:MCK) by 7.2% during the 3rd quarter, Holdings Channel reports. The fund owned 5,140 shares of the company’s stock after selling 401 shares during the period. IFG Advisory LLC’s holdings in McKesson were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in MCK. Boston Partners boosted its holdings in shares of McKesson by 54.5% in the 2nd quarter. Boston Partners now owns 6,237,042 shares of the company’s stock valued at $832,021,000 after acquiring an additional 2,200,669 shares during the last quarter. Mainstay Capital Management LLC ADV boosted its holdings in shares of McKesson by 9,884.4% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 565,718 shares of the company’s stock valued at $4,422,000 after acquiring an additional 560,052 shares during the last quarter. Vulcan Value Partners LLC boosted its holdings in shares of McKesson by 7.8% in the 2nd quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock valued at $502,664,000 after acquiring an additional 273,090 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of McKesson in the 2nd quarter valued at $35,787,000. Finally, Millennium Management LLC purchased a new stake in shares of McKesson in the 2nd quarter valued at $33,331,000. 89.19% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on MCK. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, October 29th. Barclays dropped their price objective on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a report on Friday, October 26th. Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Mizuho reiterated a “hold” rating and issued a $133.00 target price on shares of McKesson in a research note on Sunday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $150.26.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.32. The business had revenue of $53.08 billion during 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, equities research analysts predict that McKesson Co. will post 13.41 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is 12.36%.
In other news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.
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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