M&T Bank Corp Sells 1,610 Shares of McKesson Co. (MCK)
M&T Bank Corp decreased its position in shares of McKesson Co. (NYSE:MCK) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,647 shares of the company’s stock after selling 1,610 shares during the quarter. M&T Bank Corp’s holdings in McKesson were worth $6,652,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. WFG Advisors LP raised its holdings in McKesson by 5.0% during the 2nd 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. Wealthcare Advisory Partners LLC bought a new position in McKesson during the 3rd quarter worth approximately $155,000. Aries Wealth Management bought a new position in McKesson during the 4th quarter worth approximately $218,000. Community Financial Services Group LLC bought a new position in McKesson during the 4th quarter worth approximately $204,000. Finally, Sawyer & Company Inc bought a new position in McKesson during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 86.63% of the company’s stock.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.49. The company had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. McKesson’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.04 EPS. analysts expect that McKesson Co. will post 12.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. McKesson’s dividend payout ratio is currently 6.03%.
Several research firms have issued reports on MCK. Royal Bank of Canada restated a “hold” rating and set a $170.00 price target on shares of McKesson in a report on Friday, October 27th. Robert W. Baird restated a “buy” rating and set a $200.00 price target on shares of McKesson in a report on Wednesday, January 17th. Evercore ISI began coverage on shares of McKesson in a report on Thursday, January 4th. They set an “outperform” rating and a $179.00 price target for the company. Jefferies Group set a $165.00 price target on shares of McKesson and gave the stock a “hold” rating in a report on Wednesday, October 18th. Finally, ValuEngine lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. McKesson currently has an average rating of “Hold” and an average price target of $178.97.
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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