McKesson Corporation (MCK) Stake Increased by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lifted its position in shares of McKesson Corporation (NYSE:MCK) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,841 shares of the company’s stock after acquiring an additional 2,042 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of McKesson worth $28,393,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of MCK. BlackRock Inc. lifted its holdings in shares of McKesson by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after acquiring an additional 1,131,024 shares during the period. Harbour Capital Advisors LLC lifted its stake in McKesson by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,013,942 shares during the last quarter. Renaissance Technologies LLC bought a new position in McKesson in the 2nd quarter valued at approximately $164,688,000. AJO LP lifted its stake in McKesson by 742.4% in the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock valued at $106,466,000 after purchasing an additional 570,243 shares during the last quarter. Finally, Baupost Group LLC MA bought a new position in McKesson in the 3rd quarter valued at approximately $76,805,000. 88.10% of the stock is owned by institutional investors.
In other news, CEO John H. Hammergren sold 100,000 shares of the 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 sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,434,750. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,391,850. The disclosure for this sale can be found here. Insiders have sold 949,000 shares of company stock valued at $145,263,360 in the last ninety days. Insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at $152.57 on Friday. The stock has a market cap of $31,807.03, a price-to-earnings ratio of 12.55, a PEG ratio of 1.57 and a beta of 1.23. McKesson Corporation 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 released its quarterly 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. 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 revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.94 earnings per share. sell-side analysts forecast that McKesson Corporation will post 12.17 EPS for the current fiscal year.
The firm also recently declared 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 0.89%. The ex-dividend date is Thursday, November 30th. McKesson’s payout ratio is currently 6.45%.
Several brokerages recently commented on MCK. BidaskClub downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Mizuho set a $168.00 price objective on shares of McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Jefferies Group set a $165.00 price objective on shares of McKesson and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Needham & Company LLC set a $179.00 price objective on shares of McKesson 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 issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $174.31.
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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