Tower Research Capital LLC TRC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 25.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,647 shares of the company’s stock after selling 4,020 shares during the period. Tower Research Capital LLC TRC’s holdings in McKesson were worth $1,545,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MCK. Cornerstone Wealth Management LLC bought a new stake in McKesson in the second quarter worth $228,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in McKesson by 10.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 677,838 shares of the company’s stock worth $90,424,000 after acquiring an additional 62,054 shares during the last quarter. Montag A & Associates Inc. lifted its position in McKesson by 9.0% during the 2nd quarter. Montag A & Associates Inc. now owns 16,076 shares of the company’s stock worth $2,145,000 after acquiring an additional 1,334 shares during the last quarter. Hikari Power Ltd acquired a new position in McKesson during the 2nd quarter worth $232,000. Finally, First Trust Advisors LP lifted its position in McKesson by 9.5% during the 2nd quarter. First Trust Advisors LP now owns 283,130 shares of the company’s stock worth $37,770,000 after acquiring an additional 24,640 shares during the last quarter. Hedge funds and other institutional investors own 89.97% of the company’s stock.
A number of research analysts have weighed in on MCK shares. Mizuho reissued a “hold” rating and set a $133.00 target price on shares of McKesson in a research report on Sunday, August 12th. Royal Bank of Canada set a $155.00 target price on shares of McKesson and gave the stock a “hold” rating in a research report on Friday, October 26th. Barclays cut their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. Finally, ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $150.26.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.60 EPS for the quarter, beating the Zacks’ consensus estimate of $3.28 by $0.32. The business had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. Equities analysts forecast that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio is currently 12.36%.
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.
Featured Article: What are Institutional Investors?
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
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.