McKesson Co. (NYSE:MCK) Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. decreased its holdings in McKesson Co. (NYSE:MCK) by 7.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 235,614 shares of the company’s stock after selling 19,288 shares during the quarter. Panagora Asset Management Inc.’s holdings in McKesson were worth $46,977,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Field & Main Bank bought a new position in McKesson during the third quarter valued at about $27,000. Maverick Capital Ltd. boosted its position in shares of McKesson by 97.4% in the 2nd quarter. Maverick Capital Ltd. now owns 227 shares of the company’s stock valued at $43,000 after purchasing an additional 112 shares during the period. D Orazio & Associates Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $43,000. Old North State Trust LLC lifted its stake in McKesson by 39.8% in the 3rd quarter. Old North State Trust LLC now owns 232 shares of the company’s stock worth $46,000 after acquiring an additional 66 shares in the last quarter. Finally, Financial Insights Inc. purchased a new stake in McKesson in the 2nd quarter worth about $51,000. 85.12% of the stock is owned by institutional investors.

McKesson stock opened at $256.52 on Friday. The company has a market capitalization of $39.17 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of 1.24 and a beta of 0.79. McKesson Co. has a one year low of $169.34 and a one year high of $256.85. The business has a 50 day simple moving average of $233.38 and a 200 day simple moving average of $212.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Sunday, October 31st. The company reported $6.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.66 by $1.49. McKesson had a negative return on equity of 5,793.16% and a negative net margin of 1.92%. The firm had revenue of $66.58 billion during the quarter, compared to the consensus estimate of $63.23 billion. During the same quarter in the previous year, the company posted $4.80 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 22.71 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 1st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.88 annualized dividend and a yield of 0.73%. McKesson’s payout ratio is -6.25%.

In other news, CFO Britt J. Vitalone sold 8,022 shares of the business’s stock in a transaction on Monday, October 25th. The stock was sold at an average price of $210.00, for a total transaction of $1,684,620.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 6,214 shares of McKesson stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $220.00, for a total value of $1,367,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,633 shares of company stock valued at $15,322,645. Corporate insiders own 0.28% of the company’s stock.

Several equities research analysts recently issued reports on the company. Cowen increased their price objective on McKesson from $268.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, December 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $279.00 to $262.00 and set a “buy” rating on the stock in a report on Friday, December 10th. Credit Suisse Group raised McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $230.00 to $333.00 in a report on Friday, January 7th. Mizuho raised their target price on McKesson from $236.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, December 20th. Finally, Jefferies Financial Group raised their target price on McKesson from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, November 2nd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $277.42.

McKesson Company Profile

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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