Los Angeles Capital Management & Equity Research Inc. decreased its stake in McKesson Corporation (NYSE:MCK) by 97.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,508 shares of the company’s stock after selling 69,023 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in McKesson were worth $232,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of MCK. National Pension Service grew its holdings in shares of McKesson by 11.2% during the 2nd quarter. National Pension Service now owns 190,344 shares of the company’s stock valued at $31,148,000 after purchasing an additional 19,146 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of McKesson by 1,314.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 15,069 shares of the company’s stock valued at $2,479,000 after purchasing an additional 14,004 shares during the last quarter. Liberty Capital Management Inc. grew its holdings in shares of McKesson by 0.4% during the 2nd quarter. Liberty Capital Management Inc. now owns 9,744 shares of the company’s stock valued at $1,610,000 after purchasing an additional 34 shares during the last quarter. BTR Capital Management Inc. grew its holdings in shares of McKesson by 4.3% during the 2nd quarter. BTR Capital Management Inc. now owns 1,930 shares of the company’s stock valued at $318,000 after purchasing an additional 80 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in shares of McKesson by 478.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 35,077 shares of the company’s stock valued at $5,772,000 after purchasing an additional 29,017 shares during the last quarter. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $153.51, for a total value of $15,351,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 949,900 shares of company stock valued at $145,403,445. Corporate insiders own 1.20% of the company’s stock.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. During the same quarter in the prior year, the company posted $2.94 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. analysts predict that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. McKesson’s dividend payout ratio is 6.45%.
Several equities analysts recently commented on the stock. Morgan Stanley lowered shares of McKesson from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $184.00 to $172.00 in a report on Thursday, September 14th. BidaskClub lowered shares of McKesson from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Needham & Company LLC raised shares of McKesson from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a report on Friday, September 8th. Mizuho set a $168.00 target price on shares of McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada assumed coverage on shares of McKesson in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. McKesson has an average rating of “Buy” and a consensus target price of $174.31.
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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