Retirement Systems of Alabama Sells 13,947 Shares of McKesson Corporation (MCK)
Retirement Systems of Alabama lessened its position in McKesson Corporation (NYSE:MCK) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,310 shares of the company’s stock after selling 13,947 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of McKesson Corporation worth $22,167,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MCK. BlackRock Inc. raised its position in McKesson Corporation by 2,026.2% in the 1st quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC acquired a new stake in McKesson Corporation in the 1st quarter valued at approximately $191,000. Harbour Capital Advisors LLC raised its position in McKesson Corporation 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 buying an additional 1,013,942 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in McKesson Corporation in the 2nd quarter valued at approximately $164,688,000. Finally, AJO LP increased its position in shares of McKesson Corporation by 742.4% during the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock worth $106,466,000 after purchasing an additional 570,243 shares during the last quarter. 85.93% of the stock is currently owned by institutional investors and hedge funds.
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McKesson Corporation (MCK) opened at $137.10 on Tuesday. 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 fifty-two week low of $133.82 and a fifty-two week high of $169.29. The company has a market capitalization of $28,688.18, a price-to-earnings ratio of 11.32, a PEG ratio of 1.41 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The company had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. During the same quarter in the previous year, the firm earned $2.94 EPS. McKesson Corporation’s revenue was up 4.2% on a year-over-year basis. research analysts expect that McKesson Corporation will post 12.16 earnings per share 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 issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.45%.
In other McKesson Corporation news, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The disclosure for this sale can be found here. Insiders have sold a total of 950,983 shares of company stock valued at $145,560,946 in the last three months. 1.20% of the stock is owned by insiders.
Several research analysts have weighed in on the company. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research report on Monday, July 17th. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $175.00 to $178.00 in a research report on Tuesday, September 19th. Jefferies Group LLC set a $165.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. 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. Finally, Needham & Company LLC set a $179.00 price target on McKesson Corporation and gave the stock a “buy” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $174.27.
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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