Northwest Investment Counselors LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,399 shares of the company’s stock after buying an additional 650 shares during the period. Northwest Investment Counselors LLC’s holdings in McKesson Corporation were worth $1,137,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Family Firm Inc. increased its position in McKesson Corporation by 0.3% in the 2nd quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock worth $316,000 after buying an additional 5 shares during the period. Cypress Capital Group grew its holdings in shares of McKesson Corporation by 0.3% during the 2nd quarter. Cypress Capital Group now owns 3,588 shares of the company’s stock worth $590,000 after purchasing an additional 10 shares in the last quarter. Tompkins Financial Corp grew its holdings in shares of McKesson Corporation by 2.3% during the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after purchasing an additional 18 shares in the last quarter. First Financial Bank Trust Division grew its holdings in shares of McKesson Corporation by 1.3% during the 2nd quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock worth $298,000 after purchasing an additional 23 shares in the last quarter. Finally, SOL Capital Management CO grew its holdings in shares of McKesson Corporation by 0.9% during the 2nd quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock worth $585,000 after purchasing an additional 30 shares in the last quarter. 85.29% of the stock is currently owned by institutional investors.
McKesson Corporation (NYSE:MCK) traded up 1.36% during mid-day trading on Wednesday, reaching $139.76. The company’s stock had a trading volume of 1,194,205 shares. The company has a market cap of $29.39 billion, a price-to-earnings ratio of 6.34 and a beta of 1.17. McKesson Corporation has a 52-week low of $129.27 and a 52-week high of $169.29. The firm has a 50 day moving average price of $149.90 and a 200 day moving average price of $153.50.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share 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 firm had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter in the previous year, the business earned $2.94 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that McKesson Corporation will post $12.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. McKesson Corporation’s payout ratio is presently 6.45%.
In other McKesson Corporation news, Chairman John H. Hammergren sold 225,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. Insiders sold a total of 950,983 shares of company stock worth $145,560,946 in the last 90 days. Company insiders own 1.20% of the company’s stock.
Several analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $173.00 price objective (down previously from $178.00) on shares of McKesson Corporation in a report on Wednesday. ValuEngine raised McKesson Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $170.00 price target on shares of McKesson Corporation in a research note on Friday, October 27th. Mizuho set a $168.00 price target on McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Jefferies Group LLC set a $165.00 price target on McKesson Corporation and gave the company a “hold” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. McKesson Corporation has a consensus rating of “Hold” and a consensus price target of $174.32.
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About McKesson Corporation
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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