HRT Financial LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 40.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,153 shares of the company’s stock after acquiring an additional 1,492 shares during the quarter. HRT Financial LLC’s holdings in McKesson were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in MCK. Victory Capital Management Inc. raised its holdings in McKesson by 39.5% in the first quarter. Victory Capital Management Inc. now owns 20,090 shares of the company’s stock worth $2,830,000 after purchasing an additional 5,688 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in McKesson by 2,299.5% in the first quarter. Neuberger Berman Group LLC now owns 103,563 shares of the company’s stock worth $14,589,000 after purchasing an additional 99,247 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in McKesson by 15.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,650 shares of the company’s stock worth $3,472,000 after purchasing an additional 3,368 shares in the last quarter. Private Advisor Group LLC raised its holdings in McKesson by 46.1% in the first quarter. Private Advisor Group LLC now owns 4,371 shares of the company’s stock worth $616,000 after purchasing an additional 1,379 shares in the last quarter. Finally, Cetera Advisor Networks LLC raised its holdings in McKesson by 232.2% in the first quarter. Cetera Advisor Networks LLC now owns 6,222 shares of the company’s stock worth $872,000 after purchasing an additional 4,349 shares in the last quarter. Institutional investors own 88.32% of the company’s stock.
Shares of NYSE:MCK traded up $1.55 on Friday, hitting $130.79. 1,277,100 shares of the company traded hands, compared to its average volume of 1,699,104. McKesson Co. has a 52 week low of $122.49 and a 52 week high of $178.86. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 0.57. The company has a market capitalization of $26.50 billion, a PE ratio of 10.36, a PEG ratio of 1.42 and a beta of 1.23.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.01. McKesson had a positive return on equity of 25.19% and a negative net margin of 0.18%. The firm had revenue of $52.61 billion during the quarter, compared to the consensus estimate of $52.91 billion. During the same period last year, the company earned $2.47 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 13.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Tuesday, September 4th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 31st. This is a boost from McKesson’s previous quarterly dividend of $0.34. This represents a $1.56 annualized dividend and a dividend yield of 1.19%. McKesson’s dividend payout ratio (DPR) is 12.36%.
In related news, Director N Anthony Coles sold 1,350 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $128.69, for a total transaction of $173,731.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.87% of the company’s stock.
A number of equities analysts have issued reports on MCK shares. Standpoint Research upgraded McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 price objective on shares of McKesson in a report on Friday, July 27th. Morgan Stanley decreased their price objective on McKesson from $175.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. JPMorgan Chase & Co. decreased their price objective on McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Finally, Mizuho reiterated a “hold” rating and issued a $133.00 price objective on shares of McKesson in a report on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $151.99.
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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