Hanson & Doremus Investment Management decreased its position in McKesson Co. (NYSE:MCK) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,173 shares of the company’s stock after selling 261 shares during the quarter. Hanson & Doremus Investment Management’s holdings in McKesson were worth $1,254,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Flinton Capital Management LLC increased its position in McKesson by 37.6% during the 2nd quarter. Flinton Capital Management LLC now owns 14,926 shares of the company’s stock worth $2,006,000 after purchasing an additional 4,080 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in McKesson by 1.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 46,991 shares of the company’s stock worth $6,315,000 after acquiring an additional 472 shares in the last quarter. Busey Wealth Management lifted its position in McKesson by 7.1% during the 2nd quarter. Busey Wealth Management now owns 26,511 shares of the company’s stock worth $3,562,000 after acquiring an additional 1,768 shares in the last quarter. Ellington Management Group LLC acquired a new position in shares of McKesson in the 2nd quarter valued at approximately $659,000. Finally, Parallel Advisors LLC raised its position in shares of McKesson by 39.0% in the 2nd quarter. Parallel Advisors LLC now owns 912 shares of the company’s stock valued at $122,000 after purchasing an additional 256 shares in the last quarter. 87.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MCK traded up $2.89 during mid-day trading on Friday, hitting $140.20. 911,820 shares of the company traded hands, compared to its average volume of 1,560,656. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $153.30. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average of $139.56 and a two-hundred day moving average of $136.27.
McKesson (NYSE:MCK) last announced its earnings results on Wednesday, October 30th. The company reported $3.60 EPS for the quarter, meeting the consensus estimate of $3.60. McKesson had a positive return on equity of 32.77% and a negative net margin of 0.29%. The business had revenue of $57.62 billion during the quarter, compared to the consensus estimate of $55.06 billion. During the same period in the prior year, the business posted $3.60 earnings per share. McKesson’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 14.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, November 29th. McKesson’s dividend payout ratio is currently 12.09%.
In related news, SVP Sundeep G. Reddy sold 422 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the sale, the senior vice president now directly owns 1,268 shares of the company’s stock, valued at approximately $182,325.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lori A. Schechter sold 2,500 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $144.40, for a total value of $361,000.00. Following the completion of the sale, the executive vice president now directly owns 4,535 shares of the company’s stock, valued at $654,854. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,197 shares of company stock valued at $1,422,929. Company insiders own 0.88% of the company’s stock.
MCK has been the topic of a number of recent analyst reports. TheStreet lowered McKesson from a “b” rating to a “c-” rating in a research report on Wednesday, October 30th. Cleveland Research reaffirmed a “hold” rating on shares of McKesson in a research report on Thursday, September 5th. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Guggenheim started coverage on McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $152.00 price target on the stock. Finally, Deutsche Bank started coverage on McKesson in a research note on Thursday, September 12th. They issued a “hold” rating and a $155.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $146.33.
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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