GSA Capital Partners LLP lowered its stake in McKesson Co. (NYSE:MCK) by 20.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,735 shares of the company’s stock after selling 1,986 shares during the quarter. GSA Capital Partners LLP’s holdings in McKesson were worth $1,188,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ingalls & Snyder LLC raised its stake in shares of McKesson by 76.7% in the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after buying an additional 7,352 shares during the period. Whittier Trust Co. raised its stake in McKesson by 1.5% during the 3rd quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after purchasing an additional 898 shares during the period. Wells Fargo & Company MN raised its stake in McKesson by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after purchasing an additional 239,358 shares during the period. River & Mercantile Asset Management LLP raised its stake in McKesson by 278.6% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after purchasing an additional 130,852 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its stake in McKesson by 194.3% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after purchasing an additional 19,450 shares during the period. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
MCK has been the topic of several recent analyst reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Mizuho set a $168.00 target price on McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. TheStreet downgraded McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Credit Suisse Group reissued an “underperform” rating and set a $130.00 target price (down previously from $155.00) on shares of McKesson in a research note on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $174.31.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 EPS. equities research analysts expect that McKesson Co. will post 12.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio is presently 6.45%.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $154.15, for a total value of $15,415,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,434,750. The disclosure for this sale can be found here. Insiders have sold a total of 564,000 shares of company stock valued at $87,412,110 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: “GSA Capital Partners LLP Sells 1,986 Shares of McKesson Co. (MCK)” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2017/12/23/gsa-capital-partners-llp-sells-1986-shares-of-mckesson-co-mck.html.
McKesson Company Profile
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.
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.