DAVENPORT & Co LLC raised its position in McKesson Co. (NYSE:MCK) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,190 shares of the company’s stock after acquiring an additional 150 shares during the quarter. DAVENPORT & Co LLC’s holdings in McKesson were worth $256,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MCK. JPMorgan Chase & Co. grew its position in shares of McKesson by 173.2% during the third quarter. JPMorgan Chase & Co. now owns 520,286 shares of the company’s stock worth $69,016,000 after buying an additional 329,814 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of McKesson during the third quarter worth approximately $600,000. Point72 Asset Management L.P. acquired a new stake in shares of McKesson during the third quarter worth approximately $4,497,000. Koshinski Asset Management Inc. grew its position in shares of McKesson by 82.6% during the third quarter. Koshinski Asset Management Inc. now owns 3,818 shares of the company’s stock worth $506,000 after buying an additional 1,727 shares in the last quarter. Finally, Equitable Trust Co. acquired a new stake in shares of McKesson during the third quarter worth approximately $292,000. 86.60% of the stock is owned by institutional investors.
MCK has been the subject of a number of recent analyst reports. Barclays reissued a “hold” rating and set a $124.00 price target on shares of McKesson in a research report on Sunday, January 6th. Zacks Investment Research downgraded shares of McKesson from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Wolfe Research initiated coverage on shares of McKesson in a research report on Tuesday, April 2nd. They set an “outperform” rating for the company. UBS Group initiated coverage on shares of McKesson in a research report on Thursday, January 17th. They set a “neutral” rating and a $134.00 price target for the company. Finally, ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. McKesson has a consensus rating of “Hold” and a consensus price target of $134.90.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, January 31st. The company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.22. The firm had revenue of $56.21 billion during the quarter, compared to the consensus estimate of $55.27 billion. McKesson had a negative net margin of 0.15% and a positive return on equity of 27.83%. During the same quarter in the previous year, the company posted $3.41 earnings per share. On average, analysts anticipate that McKesson Co. will post 13.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Thursday, February 28th. McKesson’s dividend payout ratio 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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