Scharf Investments LLC Has $151.19 Million Stake in McKesson Corporation (MCK)
Scharf Investments LLC raised its stake in McKesson Corporation (NYSE:MCK) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 984,253 shares of the company’s stock after purchasing an additional 5,405 shares during the quarter. McKesson accounts for about 3.7% of Scharf Investments LLC’s portfolio, making the stock its 15th biggest position. Scharf Investments LLC owned approximately 0.47% of McKesson worth $151,191,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of MCK. BlackRock Inc. increased its position in shares of McKesson by 8.0% during the second quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after acquiring an additional 1,131,024 shares during the last quarter. Vanguard Group Inc. increased its position in shares of McKesson by 0.4% during the second quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock valued at $2,318,457,000 after acquiring an additional 62,004 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of McKesson by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock valued at $390,217,000 after acquiring an additional 154,967 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of McKesson by 17.2% during the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after acquiring an additional 360,676 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of McKesson by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after acquiring an additional 239,358 shares during the last quarter. 88.10% of the stock is owned by hedge funds and other institutional investors.
MCK has been the subject of a number of research analyst reports. BidaskClub downgraded McKesson from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $175.00 to $178.00 in a research report on Tuesday, September 19th. Mizuho set a $168.00 price target on McKesson and gave the company a “hold” rating in a research report on Tuesday, October 24th. TheStreet lowered McKesson from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $174.31.
In related news, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the completion of the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,329,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Hammergren sold 99,000 shares of McKesson stock in a transaction on Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the sale, 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 sold 949,000 shares of company stock valued at $145,263,360 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
McKesson Corporation (MCK) traded down $0.22 during trading on Thursday, hitting $150.47. The stock had a trading volume of 1,262,800 shares, compared to its average volume of 1,881,763. McKesson Corporation has a 52-week low of $133.82 and a 52-week high of $169.29. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $31,415.02, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.55 and a beta of 1.23.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm had revenue of $52.06 billion during the quarter, compared to analyst estimates of $51.69 billion. During the same period last year, the company earned $2.94 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts forecast that McKesson Corporation will post 12.17 earnings per share for the current year.
The business 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 $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s payout ratio is currently 6.45%.
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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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