McKesson Corporation (MCK) Holdings Raised by Van ECK Associates Corp
Van ECK Associates Corp boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 301,524 shares of the company’s stock after purchasing an additional 10,261 shares during the period. Van ECK Associates Corp owned about 0.14% of McKesson Corporation worth $46,317,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Interstate Bank lifted its stake in shares of McKesson Corporation by 6.6% in the 3rd quarter. First Interstate Bank now owns 63,441 shares of the company’s stock valued at $9,745,000 after acquiring an additional 3,948 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of McKesson Corporation by 74.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,254 shares of the company’s stock valued at $14,939,000 after acquiring an additional 41,520 shares during the last quarter. ProVise Management Group LLC lifted its stake in shares of McKesson Corporation by 7.6% in the 3rd quarter. ProVise Management Group LLC now owns 27,460 shares of the company’s stock valued at $4,218,000 after acquiring an additional 1,935 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of McKesson Corporation by 7.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,530 shares of the company’s stock valued at $1,617,000 after acquiring an additional 688 shares during the last quarter. Finally, Malaga Cove Capital LLC bought a new position in shares of McKesson Corporation in the 3rd quarter valued at $533,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
In related news, Chairman John H. Hammergren sold 225,000 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders sold 949,900 shares of company stock valued at $145,403,445 over the last 90 days. 1.20% of the stock is currently owned by company insiders.
McKesson Corporation (NYSE:MCK) traded down $1.12 during midday trading on Friday, reaching $144.68. The company had a trading volume of 317,061 shares, compared to its average volume of 1,863,769. The firm has a market capitalization of $30,395.58, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. McKesson Corporation has a 1-year low of $133.82 and a 1-year high of $169.29. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data 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 business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. McKesson Corporation’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.94 earnings per share. sell-side analysts anticipate that McKesson Corporation will post 12.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.94%. McKesson Corporation’s payout ratio is 6.45%.
A number of research analysts have recently commented on the company. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research note on Thursday, July 27th. Mizuho set a $168.00 price target on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Finally, Needham & Company LLC set a $179.00 price target on McKesson Corporation and gave the company a “buy” rating in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. McKesson Corporation currently has a consensus rating of “Hold” and a consensus target price of $174.27.
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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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