McKesson Co. (MCK) Shares Sold by Acropolis Investment Management LLC
Acropolis Investment Management LLC lowered its stake in McKesson Co. (NYSE:MCK) by 21.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,102 shares of the company’s stock after selling 840 shares during the quarter. Acropolis Investment Management LLC’s holdings in McKesson were worth $484,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MCK. Sawyer & Company Inc acquired a new stake in McKesson during the 4th quarter worth $208,000. Founders Capital Management LLC boosted its stake in McKesson by 1.6% during the 4th quarter. Founders Capital Management LLC now owns 40,209 shares of the company’s stock worth $6,271,000 after purchasing an additional 617 shares during the last quarter. DnB Asset Management AS boosted its stake in McKesson by 90.8% during the 4th quarter. DnB Asset Management AS now owns 46,032 shares of the company’s stock worth $7,179,000 after purchasing an additional 21,900 shares during the last quarter. Carlson Capital Management boosted its stake in McKesson by 52.6% during the 4th quarter. Carlson Capital Management now owns 3,161 shares of the company’s stock worth $493,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in McKesson by 7.1% during the 3rd quarter. Prudential Financial Inc. now owns 446,814 shares of the company’s stock worth $68,636,000 after purchasing an additional 29,658 shares during the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Co. (MCK) opened at $162.30 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The firm has a market cap of $33,840.00, a PE ratio of 7.69, a PEG ratio of 1.61 and a beta of 1.23. McKesson Co. has a 1 year low of $133.82 and a 1 year high of $169.29.
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 consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion for the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS. analysts expect that McKesson Co. will post 12.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.84%. McKesson’s payout ratio is 6.44%.
Several equities research analysts have issued reports on MCK shares. Deutsche Bank started coverage on shares of McKesson in a research note on Monday, December 4th. They set a “buy” rating and a $175.00 target price on the stock. Needham & Company LLC set a $178.00 target price on shares of McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. ValuEngine raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research note on Tuesday, December 26th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $174.64.
In other news, Chairman John H. Hammergren sold 65,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.
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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