IFP Advisors Inc raised its holdings in McKesson Co. (NYSE:MCK) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,032 shares of the company’s stock after purchasing an additional 410 shares during the quarter. IFP Advisors Inc’s holdings in McKesson were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Fort L.P. purchased a new stake in McKesson in the 2nd quarter valued at approximately $110,000. James Hambro & Partners boosted its holdings in McKesson by 141.6% in the 2nd quarter. James Hambro & Partners now owns 877 shares of the company’s stock valued at $117,000 after purchasing an additional 514 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in McKesson in the 2nd quarter valued at approximately $118,000. Reilly Financial Advisors LLC boosted its holdings in McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after purchasing an additional 750 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in McKesson in the 2nd quarter valued at approximately $174,000. 88.17% of the stock is currently owned by institutional investors.
Shares of McKesson stock opened at $125.41 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56. McKesson Co. has a 1 year low of $117.19 and a 1 year high of $178.86. The company has a market cap of $24.25 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.41 and a beta of 1.23.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 annualized dividend and a yield of 1.24%. McKesson’s dividend payout ratio (DPR) is presently 12.36%.
A number of equities research analysts have weighed in on MCK shares. Standpoint Research raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Citigroup lowered their price objective on McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a report on Friday, July 20th. Robert W. Baird lowered McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $152.00 price objective on shares of McKesson in a report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $160.00 price target on shares of McKesson in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $150.26.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $128.69, for a total value of $173,731.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company’s stock.
McKesson Company Profile
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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