Quantitative Investment Management LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 53,300 shares of the company’s stock, valued at approximately $8,312,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in McKesson by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,697,323 shares of the company’s stock worth $420,648,000 after purchasing an additional 157,018 shares during the period. Pzena Investment Management LLC grew its holdings in shares of McKesson by 5.8% during the fourth quarter. Pzena Investment Management LLC now owns 2,600,401 shares of the company’s stock valued at $405,533,000 after buying an additional 141,870 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of McKesson by 1.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,450,313 shares of the company’s stock valued at $382,126,000 after buying an additional 37,023 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,270,865 shares of the company’s stock valued at $353,418,000 after buying an additional 12,150 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of McKesson by 61.5% during the fourth quarter. Boston Partners now owns 1,815,132 shares of the company’s stock valued at $283,070,000 after buying an additional 691,476 shares during the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.
In other news, SVP Erin M. Lampert sold 1,413 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $149.38, for a total value of $211,073.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.
MCK has been the topic of several research reports. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a report on Tuesday, February 20th. Credit Suisse Group reiterated a “sell” rating and issued a $130.00 price target on shares of McKesson in a research report on Friday, February 2nd. ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Bank of America assumed coverage on shares of McKesson in a research report on Tuesday, February 27th. They set a “buy” rating and a $179.00 price objective on the stock. Finally, Jefferies Group upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. McKesson presently has a consensus rating of “Hold” and a consensus price target of $176.74.
Shares of NYSE MCK traded down $1.06 during trading hours on Monday, hitting $139.81. 1,916,440 shares of the stock were exchanged, compared to its average volume of 1,796,360. The firm has a market cap of $29,067.02, a PE ratio of 12.04, a price-to-earnings-growth ratio of 1.34 and a beta of 1.32. McKesson Co. has a 12 month low of $133.82 and a 12 month high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
McKesson (NYSE:MCK) last released its earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.49. The company had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. McKesson’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 EPS. equities research analysts anticipate that McKesson Co. will post 12.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is currently 11.71%.
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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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