Bellevue Group AG lowered its position in McKesson Corporation (NYSE:MCK) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,000 shares of the company’s stock after selling 2,000 shares during the period. Bellevue Group AG’s holdings in McKesson Corporation were worth $4,002,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in McKesson Corporation by 0.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 98,355 shares of the company’s stock worth $18,358,000 after buying an additional 300 shares during the last quarter. HGK Asset Management Inc. acquired a new position in McKesson Corporation during the second quarter worth about $12,358,000. CAM Group Holding A S increased its position in McKesson Corporation by 2.7% in the second quarter. CAM Group Holding A S now owns 1,292,475 shares of the company’s stock worth $241,241,000 after buying an additional 33,903 shares during the last quarter. Strs Ohio increased its position in McKesson Corporation by 1.5% in the third quarter. Strs Ohio now owns 434,058 shares of the company’s stock worth $72,379,000 after buying an additional 6,350 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in McKesson Corporation by 16.6% in the third quarter. UBS Asset Management Americas Inc. now owns 773,709 shares of the company’s stock worth $129,017,000 after buying an additional 110,017 shares during the last quarter. 84.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE:MCK) traded down 0.94% during trading on Monday, hitting $140.45. 1,204,659 shares of the stock traded hands. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $199.43. The firm has a market cap of $31.75 billion, a P/E ratio of 16.83 and a beta of 1.06. The company has a 50-day moving average of $142.65 and a 200-day moving average of $168.13.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. The firm had revenue of $49.96 billion for the quarter, compared to the consensus estimate of $24.16 billion. McKesson Corporation had a return on equity of 29.85% and a net margin of 0.99%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $3.31 earnings per share. On average, analysts forecast that McKesson Corporation will post $12.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Tuesday, November 29th. McKesson Corporation’s dividend payout ratio (DPR) is currently 13.45%.
MCK has been the topic of a number of research reports. Standpoint Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $156.00 target price on the stock in a research report on Friday, October 28th. Leerink Swann downgraded shares of McKesson Corporation from an “outperform” rating to a “market perform” rating in a research report on Friday, October 28th. Zacks Investment Research downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Goldman Sachs Group, Inc. (The) downgraded shares of McKesson Corporation from a “buy” rating to a “neutral” rating and cut their target price for the company from $210.00 to $189.00 in a research report on Friday, September 16th. Finally, Robert W. Baird downgraded shares of McKesson Corporation from an “outperform” rating to a “neutral” rating and cut their target price for the company from $200.00 to $164.00 in a research report on Friday, October 28th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. McKesson Corporation currently has an average rating of “Hold” and an average price target of $187.69.
In related news, EVP Lori A. Schechter acquired 692 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were bought at an average cost of $144.52 per share, with a total value of $100,007.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A. Budd sold 723 shares of McKesson Corporation stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $145.77, for a total value of $105,391.71. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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