First Personal Financial Services grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 13.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,046 shares of the company’s stock after purchasing an additional 738 shares during the period. First Personal Financial Services’ holdings in McKesson Corporation were worth $929,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. IHT Wealth Management LLC boosted its stake in McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after buying an additional 190 shares in the last quarter. Captrust Financial Advisors bought a new position in McKesson Corporation during the second quarter valued at about $107,000. American Beacon Advisors Inc. bought a new position in McKesson Corporation during the first quarter valued at about $100,000. Orrstown Financial Services Inc. boosted its stake in McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in McKesson Corporation during the second quarter valued at about $125,000. 85.95% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $173.00 target price (down previously from $178.00) on shares of McKesson Corporation in a research note on Wednesday, November 1st. ValuEngine upgraded McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Royal Bank Of Canada reiterated a “hold” rating and issued a $170.00 price target on shares of McKesson Corporation in a research report on Friday, October 27th. Mizuho set a $168.00 price target on McKesson Corporation and gave the company a “hold” rating in a research report 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 report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. McKesson Corporation has an average rating of “Hold” and an average price target of $174.32.
Shares of McKesson Corporation (NYSE:MCK) traded down $2.17 during midday trading on Monday, reaching $135.44. The company’s stock had a trading volume of 905,643 shares, compared to its average volume of 2,462,704. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $28,688.18, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 period last year, the business earned $2.94 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. sell-side analysts expect that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
In other news, Chairman John H. Hammergren sold 225,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $151.67, for a total transaction of $34,125,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Insiders have sold a total of 950,983 shares of company stock valued at $145,560,946 over the last ninety days. Company insiders own 1.20% of the company’s stock.
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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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