McKesson Co. (MCK) Position Lifted by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,215 shares of the company’s stock after buying an additional 3,406 shares during the period. Tocqueville Asset Management L.P.’s holdings in McKesson were worth $6,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Fort L.P. purchased a new position in McKesson in the second quarter valued at about $110,000. Flagship Harbor Advisors LLC purchased a new position in McKesson in the second quarter valued at about $118,000. Reilly Financial Advisors LLC grew its stake in 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 purchasing an additional 750 shares in the last quarter. Bray Capital Advisors purchased a new position in McKesson in the third quarter valued at about $123,000. Finally, FNY Investment Advisers LLC grew its stake in 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 purchasing an additional 526 shares in the last quarter. 85.46% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on MCK shares. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research note on Monday, October 29th. Mizuho restated a “hold” rating and issued a $133.00 target price on shares of McKesson in a research note on Sunday, August 12th. Royal Bank of Canada set a $155.00 target price on McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Barclays lowered their target price on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Finally, Morgan Stanley lowered their target price on McKesson from $142.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Monday, December 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. McKesson presently has an average rating of “Hold” and a consensus price target of $147.63.

MCK opened at $124.94 on Friday. The stock has a market cap of $24.70 billion, a PE ratio of 9.90, a P/E/G ratio of 1.44 and a beta of 1.03. McKesson Co. has a 52-week low of $117.19 and a 52-week high of $178.86. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion during the quarter, compared to the consensus estimate of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. On average, equities research analysts forecast that McKesson Co. will post 13.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 1.25%. McKesson’s dividend payout ratio (DPR) is presently 12.36%.

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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.

Further Reading: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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