Afam Capital Inc. Has $3.46 Million Stake in McKesson Co. (MCK)
Afam Capital Inc. raised its stake in McKesson Co. (NYSE:MCK) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,495 shares of the company’s stock after acquiring an additional 1,451 shares during the quarter. Afam Capital Inc.’s holdings in McKesson were worth $3,455,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. IHT Wealth Management LLC grew its position in shares of McKesson by 64.2% in the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after purchasing an additional 190 shares during the period. Captrust Financial Advisors purchased a new stake in shares of McKesson in the second quarter valued at $107,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of McKesson in the second quarter valued at $125,000. WFG Advisors LP grew its position in shares of McKesson by 5.0% in the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after purchasing an additional 41 shares during the period. Finally, Atwood & Palmer Inc. purchased a new stake in shares of McKesson in the second quarter valued at $165,000. 88.10% of the stock is owned by institutional investors.
MCK has been the subject of a number of recent analyst reports. Needham & Company LLC set a $178.00 price objective on McKesson and gave the company a “buy” rating in a research report on Tuesday, October 24th. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Deutsche Bank initiated coverage on McKesson in a research report on Monday, December 4th. They issued a “buy” rating and a $175.00 price objective for the company. TheStreet downgraded McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Morgan Stanley downgraded McKesson from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. McKesson has a consensus rating of “Buy” and an average price target of $174.31.
In other McKesson news, CEO John H. Hammergren sold 125,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction dated 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 owns 165,000 shares in the company, valued at approximately $25,329,150. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 949,000 shares of company stock worth $145,263,360. 1.20% of the stock is currently owned by insiders.
McKesson Co. (NYSE:MCK) traded up $0.74 during mid-day trading on Wednesday, reaching $154.55. The company’s stock had a trading volume of 1,981,400 shares, compared to its average volume of 1,875,875. McKesson Co. has a 1 year low of $133.82 and a 1 year high of $169.29. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05. The stock has a market capitalization of $32,065.46, a P/E ratio of 12.65, a PEG ratio of 1.58 and a beta of 1.23.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter in the previous year, the business earned $2.94 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. equities analysts predict that McKesson Co. will post 12.17 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio is presently 6.45%.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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