Oppenheimer Asset Management Inc. acquired a new position in shares of McKesson Co. (NYSE:MCK) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,432 shares of the company’s stock, valued at approximately $323,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Rossmore Private Capital lifted its stake in shares of McKesson by 51.4% in the third quarter. Rossmore Private Capital now owns 2,946 shares of the company’s stock worth $391,000 after acquiring an additional 1,000 shares in the last quarter. Argyle Capital Management Inc. lifted its stake in shares of McKesson by 4.4% in the third quarter. Argyle Capital Management Inc. now owns 21,575 shares of the company’s stock worth $2,862,000 after acquiring an additional 900 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in McKesson by 22.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 79,014 shares of the company’s stock valued at $10,483,000 after buying an additional 14,444 shares in the last quarter. Palo Capital Inc. raised its stake in McKesson by 214.6% during the third quarter. Palo Capital Inc. now owns 14,520 shares of the company’s stock valued at $1,926,000 after buying an additional 9,904 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in McKesson by 8.9% during the third quarter. IFP Advisors Inc now owns 5,032 shares of the company’s stock valued at $667,000 after buying an additional 410 shares in the last quarter. Institutional investors own 89.19% of the company’s stock.
Several analysts have issued reports on MCK shares. Barclays cut their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. cut their price objective on McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Finally, Mizuho restated a “hold” rating and set a $133.00 price objective on shares of McKesson in a research note on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $150.26.
NYSE:MCK opened at $132.57 on Friday. The company has a market cap of $25.13 billion, a PE ratio of 9.60, a P/E/G ratio of 1.46 and a beta of 1.05. McKesson Co. has a 52 week low of $117.19 and a 52 week high of $178.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. Equities research analysts anticipate that McKesson Co. will post 13.41 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend 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 presently 12.36%.
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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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