Investors Sell McKesson Corporation (MCK) on Strength (MCK)
Investors sold shares of McKesson Corporation (NYSE:MCK) on strength during trading hours on Thursday. $77.08 million flowed into the stock on the tick-up and $105.03 million flowed out of the stock on the tick-down, for a money net flow of $27.95 million out of the stock. Of all equities tracked, McKesson Corporation had the 0th highest net out-flow for the day. McKesson Corporation traded up $2.93 for the day and closed at $145.80
A number of analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $175.00 to $178.00 in a research note on Tuesday, September 19th. Jefferies Group LLC set a $165.00 price objective on shares of McKesson Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Mizuho set a $168.00 price objective on shares of McKesson Corporation and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC set a $179.00 price objective on shares of McKesson Corporation and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, Cowen Inc upgraded shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $176.00 to $189.00 in a research note on Tuesday, October 10th. 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. McKesson Corporation presently has an average rating of “Hold” and a consensus price target of $174.27.
The company has a market cap of $29,920.00, a PE ratio of 11.99, a PEG ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same quarter last year, the business earned $2.94 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that McKesson Corporation will post 12.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.94%. McKesson Corporation’s dividend payout ratio (DPR) is 6.44%.
In other news, CEO John H. Hammergren sold 99,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at $25,391,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,900 shares of company stock worth $145,403,445. Insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in McKesson Corporation during the third quarter worth about $247,000. Public Employees Retirement System of Ohio raised its stake in McKesson Corporation by 0.3% during the third quarter. Public Employees Retirement System of Ohio now owns 163,169 shares of the company’s stock worth $25,064,000 after purchasing an additional 536 shares during the period. IFM Investors Pty Ltd purchased a new position in McKesson Corporation during the third quarter worth about $914,000. Wealthcare Advisory Partners LLC purchased a new position in McKesson Corporation during the third quarter worth about $155,000. Finally, Sterling Capital Management LLC raised its stake in McKesson Corporation by 26.2% during the third quarter. Sterling Capital Management LLC now owns 448,728 shares of the company’s stock worth $68,929,000 after purchasing an additional 93,168 shares during the period. 87.50% of the stock is currently owned by institutional investors.
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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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