Stephens Inc. AR Trims Stake in McKesson Corporation (MCK)
Stephens Inc. AR lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 9.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,703 shares of the company’s stock after selling 2,435 shares during the quarter. Stephens Inc. AR’s holdings in McKesson Corporation were worth $3,487,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. acquired a new stake in shares of McKesson Corporation during the first quarter worth about $100,000. Captrust Financial Advisors acquired a new stake in shares of McKesson Corporation during the second quarter worth about $107,000. Archford Capital Strategies LLC raised its holdings in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after acquiring an additional 268 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in McKesson Corporation in the second quarter valued at approximately $125,000. Finally, Tompkins Financial Corp raised its holdings in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after acquiring an additional 18 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction dated 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 in the company, valued at approximately $25,329,150. 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 stock was 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. In the last three months, insiders sold 949,900 shares of company stock valued at $145,403,445. 1.20% of the stock is owned by corporate insiders.
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Shares of McKesson Corporation (MCK) traded down $3.89 during midday trading on Tuesday, hitting $138.24. The company had a trading volume of 3,618,200 shares, compared to its average volume of 1,860,112. 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 52-week low of $133.82 and a 52-week high of $169.29. The firm has a market capitalization of $29,630.00, a P/E ratio of 11.69, a PEG ratio of 1.46 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating 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 the consensus estimate of $51.69 billion. During the same quarter last year, the company earned $2.94 earnings per share. McKesson Corporation’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts expect that McKesson Corporation will post 12.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders 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 yield of 0.98%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.44%.
Several analysts recently weighed in on MCK shares. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Mizuho set a $168.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. TheStreet cut shares of McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, ValuEngine raised shares of McKesson Corporation 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 issued a hold rating and eleven have given a buy rating to the company’s stock. McKesson Corporation has an average rating of “Hold” and an average target price of $174.27.
McKesson Corporation 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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