Golub Group LLC lifted its position in McKesson Co. (NYSE:MCK) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,921 shares of the company’s stock after acquiring an additional 511 shares during the period. Golub Group LLC’s holdings in McKesson were worth $1,183,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its position in shares of McKesson by 19.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 8,050 shares of the company’s stock valued at $1,074,000 after buying an additional 1,290 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in shares of McKesson during the 2nd quarter valued at approximately $228,000. Creative Planning raised its position in shares of McKesson by 3.0% during the 2nd quarter. Creative Planning now owns 18,465 shares of the company’s stock valued at $2,463,000 after buying an additional 530 shares during the period. Sumitomo Life Insurance Co. raised its position in shares of McKesson by 4.5% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 9,939 shares of the company’s stock valued at $1,326,000 after buying an additional 426 shares during the period. Finally, Zeke Capital Advisors LLC raised its position in shares of McKesson by 12.2% during the 2nd quarter. Zeke Capital Advisors LLC now owns 6,838 shares of the company’s stock valued at $912,000 after buying an additional 743 shares during the period. 89.97% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MCK opened at $121.81 on Friday. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. 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 Co. has a 52 week low of $117.19 and a 52 week high of $178.86.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 1.28%. McKesson’s dividend payout ratio (DPR) is 12.36%.
Several research firms have recently commented on MCK. Royal Bank of Canada reaffirmed a “hold” rating and set a $152.00 price target 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 for the company in a 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 for the company in a report on Friday, October 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $160.00 target price on shares of McKesson in a report on Friday, July 27th. Finally, ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Two investment 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 company has a consensus rating of “Hold” and an average target price of $150.26.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.
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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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