Mainstay Capital Management LLC ADV boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 31.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,421 shares of the company’s stock after acquiring an additional 1,755 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in McKesson were worth $985,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Fort L.P. acquired a new stake in McKesson during the second quarter worth $110,000. Flagship Harbor Advisors LLC acquired a new stake in shares of McKesson in the second quarter valued at $118,000. Reilly Financial Advisors LLC grew its stake in shares of McKesson by 506.8% in the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after buying an additional 750 shares in the last quarter. Bray Capital Advisors acquired a new stake in shares of McKesson in the third quarter valued at $123,000. Finally, FNY Investment Advisers LLC grew its stake in shares of McKesson by 88.6% in the third quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after buying an additional 526 shares in the last quarter. 85.46% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Mizuho reaffirmed a “hold” rating and issued a $133.00 price objective on shares of McKesson in a research note on Sunday, August 12th. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Barclays dropped their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. McKesson has a consensus rating of “Hold” and an average target price of $150.26.
McKesson (NYSE:MCK) last posted its earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping the Zacks’ consensus estimate of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The business had revenue of $53.08 billion for the quarter, compared to analysts’ expectations of $53.56 billion. As a group, equities research analysts anticipate that McKesson Co. will post 13.41 EPS for the current year.
The company also recently announced 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 of this dividend is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is currently 12.36%.
McKesson Company Profile
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.
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