Bank of Stockton lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,893 shares of the company’s stock after selling 423 shares during the quarter. Bank of Stockton’s holdings in McKesson Corporation were worth $905,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. acquired a new stake in McKesson Corporation in the first quarter valued at approximately $100,000. Captrust Financial Advisors acquired a new stake in McKesson Corporation in the second quarter valued at approximately $107,000. Archford Capital Strategies LLC raised its holdings in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after acquiring an additional 268 shares in the last quarter. Orrstown Financial Services Inc. raised its holdings in McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after acquiring an additional 43 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in McKesson Corporation in the second quarter valued at approximately $125,000. 85.93% of the stock is currently owned by institutional investors and hedge funds.
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In other news, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $153.51, for a total value of $15,351,000.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The disclosure for this sale can be found here. In the last three months, insiders sold 950,983 shares of company stock valued at $145,560,946. 1.20% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on MCK. Royal Bank Of Canada began coverage on shares of McKesson Corporation in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 target price on the stock. Jefferies Group LLC set a $165.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a report on Wednesday, October 18th. Cowen and Company raised shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the company from $176.00 to $189.00 in a report on Tuesday, October 10th. Needham & Company LLC set a $179.00 target price on shares of McKesson Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub cut shares of McKesson Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $174.27.
Shares of McKesson Corporation (NYSE MCK) traded up $0.44 during midday trading on Tuesday, hitting $138.05. The company had a trading volume of 2,289,800 shares, compared to its average volume of 1,843,149. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 52-week low of $133.82 and a 52-week high of $169.29. The firm has a market capitalization of $28,688.18, a P/E ratio of 11.32, a PEG ratio of 1.41 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The company had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter last year, the company earned $2.94 earnings per share. McKesson Corporation’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts expect that McKesson Corporation will post 12.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.45%.
About McKesson Corporation
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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