Ridgewood Investments LLC increased its position in McKesson Co. (NYSE:MCK) by 37.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,584 shares of the company’s stock after purchasing an additional 702 shares during the quarter. Ridgewood Investments LLC’s holdings in McKesson were worth $302,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its holdings in McKesson by 161.2% during the fourth quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock worth $25,000 after buying an additional 137 shares during the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of McKesson by 165.2% during the 4th quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 147 shares in the last quarter. Dubuque Bank & Trust Co. lifted its holdings in shares of McKesson by 106.7% during the 1st quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock valued at $40,000 after purchasing an additional 176 shares in the last quarter. Old North State Trust LLC lifted its holdings in shares of McKesson by 53.3% during the 4th quarter. Old North State Trust LLC now owns 391 shares of the company’s stock valued at $43,000 after purchasing an additional 136 shares in the last quarter. Finally, IMS Capital Management bought a new position in shares of McKesson during the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.
MCK has been the topic of several recent analyst reports. Zacks Investment Research cut McKesson from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, January 5th. Barclays reiterated a “hold” rating and set a $124.00 price objective on shares of McKesson in a report on Sunday, January 6th. UBS Group initiated coverage on McKesson in a report on Thursday, January 17th. They set a “neutral” rating and a $134.00 price objective on the stock. Finally, Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. McKesson currently has an average rating of “Hold” and a consensus price target of $134.90.
Shares of McKesson stock opened at $117.21 on Tuesday. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $160.84. The company has a market capitalization of $22.48 billion, a P/E ratio of 9.29, a PEG ratio of 1.17 and a beta of 1.24. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, January 31st. The company reported $3.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.22. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. The business had revenue of $56.21 billion for the quarter, compared to analyst estimates of $55.27 billion. During the same quarter last year, the firm earned $3.41 EPS. Research analysts forecast that McKesson Co. will post 13.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Thursday, February 28th. McKesson’s dividend payout ratio (DPR) is 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.
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