Nisa Investment Advisors LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,146 shares of the company’s stock after purchasing an additional 7,339 shares during the period. Nisa Investment Advisors LLC owned 0.05% of McKesson worth $13,286,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its stake in shares of McKesson by 2.5% during the second quarter. Raymond James Trust N.A. now owns 15,079 shares of the company’s stock worth $2,012,000 after buying an additional 371 shares during the period. World Asset Management Inc lifted its stake in shares of McKesson by 2.8% during the second quarter. World Asset Management Inc now owns 14,154 shares of the company’s stock worth $1,888,000 after buying an additional 384 shares during the period. OLD National Bancorp IN lifted its stake in shares of McKesson by 4.9% during the second quarter. OLD National Bancorp IN now owns 8,573 shares of the company’s stock worth $1,144,000 after buying an additional 397 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of McKesson by 4.5% during the second quarter. Sumitomo Life Insurance Co. now owns 9,939 shares of the company’s stock worth $1,326,000 after buying an additional 426 shares during the period. Finally, Trust Department MB Financial Bank N A lifted its stake in shares of McKesson by 1.0% during the third quarter. Trust Department MB Financial Bank N A now owns 41,256 shares of the company’s stock worth $5,473,000 after buying an additional 428 shares during the period. 89.19% of the stock is owned by institutional investors and hedge funds.
MCK traded down $1.76 on Friday, reaching $130.81. 805,179 shares of the company’s stock were exchanged, compared to its average volume of 1,715,922. The firm has a market capitalization of $25.93 billion, a PE ratio of 10.37, a PEG ratio of 1.51 and a beta of 1.05. McKesson Co. has a twelve month low of $117.19 and a twelve month high of $178.86. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion for the quarter, compared to analyst estimates of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. As a group, analysts predict that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The company also recently announced 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 1.19%. McKesson’s payout ratio is 12.36%.
In other McKesson news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.87% of the company’s stock.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $160.00 price objective on shares of McKesson in a research note on Friday, July 27th. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a report on Friday, July 20th. Citigroup reduced their target price on shares of McKesson from $160.00 to $2.86 and set a “buy” rating for the company in a report on Friday, July 20th. Mizuho reissued a “hold” rating and set a $133.00 target price on shares of McKesson in a report on Sunday, August 12th. Finally, ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $150.26.
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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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