McKesson Corporation (MCK) Shares Bought by Mackenzie Financial Corp
Mackenzie Financial Corp lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 21.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 558,993 shares of the company’s stock after acquiring an additional 98,815 shares during the period. Mackenzie Financial Corp owned approximately 0.27% of McKesson worth $85,867,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its stake in McKesson by 64.2% in the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after purchasing an additional 190 shares during the last quarter. Captrust Financial Advisors bought a new stake in McKesson in the second quarter worth $107,000. Harvest Fund Management Co. Ltd bought a new stake in McKesson in the second quarter worth $125,000. WFG Advisors LP lifted its stake in McKesson by 5.0% in the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares during the last quarter. Finally, Atwood & Palmer Inc. bought a new stake in McKesson in the second quarter worth $165,000. 88.10% of the stock is owned by institutional investors.
In related news, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 949,900 shares of company stock valued at $145,403,445. Insiders own 1.20% of the company’s stock.
Shares of McKesson Corporation (MCK) traded down $1.35 during trading hours on Monday, hitting $146.39. 2,560,700 shares of the stock traded hands, compared to its average volume of 1,880,070. The company has a market capitalization of $30,518.58, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.50 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 52-week low of $133.82 and a 52-week high of $169.29.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.94 earnings per share. equities research analysts expect that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is 6.45%.
MCK has been the subject of several recent research reports. BidaskClub downgraded shares of McKesson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. TheStreet downgraded shares of McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Jefferies Group set a $165.00 price target on shares of McKesson and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Needham & Company LLC raised shares of McKesson from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a research note on Friday, September 8th. Finally, Morgan Stanley downgraded shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $174.31.
McKesson Company Profile
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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