McKesson Co. (MCK) Shares Bought by Knightsbridge Asset Management LLC
Knightsbridge Asset Management LLC raised its stake in McKesson Co. (NYSE:MCK) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,068 shares of the company’s stock after buying an additional 388 shares during the period. McKesson makes up approximately 5.3% of Knightsbridge Asset Management LLC’s holdings, making the stock its 12th largest holding. Knightsbridge Asset Management LLC’s holdings in McKesson were worth $7,691,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors purchased a new position in shares of McKesson during the 2nd quarter worth approximately $107,000. Harvest Fund Management Co. Ltd purchased a new position in shares of McKesson during the 2nd quarter worth approximately $125,000. WFG Advisors LP increased its stake in shares of McKesson by 5.0% during the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth approximately $155,000. Finally, Atwood & Palmer Inc. purchased a new position in shares of McKesson during the 2nd quarter worth approximately $165,000. 88.10% of the stock is owned by institutional investors.
In other news, CEO John H. Hammergren sold 125,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $154.15, for a total transaction of $15,415,000.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares in the company, valued at approximately $25,434,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 949,000 shares of company stock worth $145,263,360. 1.20% of the stock is owned by company insiders.
Shares of McKesson Co. (NYSE:MCK) traded up $1.99 on Friday, hitting $157.20. 2,443,400 shares of the company’s stock were exchanged, compared to its average volume of 1,876,508. The firm has a market cap of $32,357.33, a price-to-earnings ratio of 12.76, a PEG ratio of 1.59 and a beta of 1.23. McKesson Co. has a 52 week low of $133.82 and a 52 week 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.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. The company had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. McKesson’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.94 EPS. equities research analysts anticipate that McKesson Co. will post 12.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.87%. McKesson’s dividend payout ratio (DPR) is presently 6.45%.
A number of research analysts have recently weighed in on MCK shares. Needham & Company LLC set a $178.00 price objective on shares of McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. ValuEngine upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Deutsche Bank started coverage on shares of McKesson in a research report on Monday, December 4th. They set a “buy” rating and a $175.00 target price on the stock. TheStreet lowered shares of McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, Morgan Stanley lowered shares of McKesson from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock 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 given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $174.31.
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McKesson Company Profile
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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