Montag A & Associates Inc. Has $3.82 Million Position in McKesson Corporation (MCK)
Montag A & Associates Inc. cut its stake in McKesson Corporation (NYSE:MCK) by 6.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,894 shares of the company’s stock after selling 1,745 shares during the quarter. Montag A & Associates Inc.’s holdings in McKesson Corporation were worth $3,824,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in McKesson Corporation by 8.0% in the second quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after buying an additional 1,131,024 shares during the last quarter. Vanguard Group Inc. lifted its position in McKesson Corporation by 0.4% in the second quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after buying an additional 62,004 shares during the last quarter. Ballentine Partners LLC bought a new stake in McKesson Corporation in the first quarter worth $191,000. Pzena Investment Management LLC lifted its position in McKesson Corporation by 17.2% in the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after buying an additional 360,676 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in McKesson Corporation by 12.7% in the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after buying an additional 239,358 shares during the last quarter. Institutional investors own 85.93% of the company’s stock.
Shares of McKesson Corporation (MCK) traded up $0.44 during trading on Tuesday, hitting $138.05. The stock had a trading volume of 2,289,800 shares, compared to its average volume of 1,843,149. The stock has a market capitalization of $28,688.18, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.41 and a beta of 1.21. 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 Corporation has a 1 year low of $133.82 and a 1 year high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $51.69 billion. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.94 earnings per share. research analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.99%. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
MCK has been the subject of a number of analyst reports. BidaskClub downgraded McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $175.00 to $178.00 in a research report on Tuesday, September 19th. Mizuho set a $168.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 24th. TheStreet downgraded McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Finally, ValuEngine upgraded McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. McKesson Corporation presently has a consensus rating of “Hold” and a consensus price target of $174.27.
In other McKesson Corporation news, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction dated Thursday, September 7th. The shares were 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 950,983 shares of company stock worth $145,560,946 in the last quarter. 1.20% of the stock is owned by insiders.
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McKesson Corporation 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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