Janney Montgomery Scott LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,850 shares of the company’s stock after selling 829 shares during the quarter. Janney Montgomery Scott LLC’s holdings in McKesson were worth $2,125,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Reilly Financial Advisors LLC grew its position in shares of McKesson by 198.5% in the first quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 133 shares during the period. Trust Co. of Vermont grew its position in shares of McKesson by 254.2% in the first quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 150 shares during the period. EPG Wealth Management LLC grew its position in shares of McKesson by 75.2% in the first quarter. EPG Wealth Management LLC now owns 233 shares of the company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. OmniStar Financial Group Inc. acquired a new stake in shares of McKesson in the first quarter valued at about $34,000. Finally, Ellevest Inc. grew its position in shares of McKesson by 84.8% in the first quarter. Ellevest Inc. now owns 279 shares of the company’s stock valued at $38,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 79.19% of the company’s stock.
McKesson stock opened at $150.16 on Friday. The company’s 50 day simple moving average is $151.74 and its 200-day simple moving average is $146.75. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84. McKesson Co. has a 1 year low of $112.60 and a 1 year high of $172.18. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.60 and a current ratio of 0.99.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.10 by $0.17. The firm had revenue of $58.54 billion during the quarter, compared to analysts’ expectations of $55.60 billion. McKesson had a net margin of 0.39% and a return on equity of 41.07%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.69 earnings per share. Equities analysts expect that McKesson Co. will post 14.36 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from McKesson’s previous quarterly dividend of $0.41. McKesson’s payout ratio is 10.97%.
In other McKesson news, CFO Britt J. Vitalone sold 1,034 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $149.60, for a total transaction of $154,686.40. Following the completion of the transaction, the chief financial officer now owns 1,048 shares in the company, valued at approximately $156,780.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Schechter sold 5,488 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $878,080.00. Following the transaction, the executive vice president now owns 11,397 shares of the company’s stock, valued at approximately $1,823,520. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $1,394,429 in the last 90 days. Company insiders own 0.28% of the company’s stock.
Several analysts have recently issued reports on MCK shares. Morgan Stanley lifted their target price on shares of McKesson from $163.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Mizuho raised their price target on shares of McKesson from $140.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. Credit Suisse Group started coverage on shares of McKesson in a research note on Wednesday, April 22nd. They issued a “neutral” rating and a $146.00 price target on the stock. Guggenheim raised their price target on shares of McKesson from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Zacks Investment Research downgraded shares of McKesson from a “hold” rating to a “sell” rating and set a $161.00 price target on the stock. in a research note on Thursday, July 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. McKesson currently has a consensus rating of “Hold” and a consensus price target of $172.79.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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