Gulf International Bank UK Ltd Has $11,378,000 Stake in McKesson Corp. (MCK)
Gulf International Bank UK Ltd maintained its position in shares of McKesson Corp. (NYSE:MCK) during the third quarter, according to its most recent filing with the SEC. The firm owned 68,235 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in McKesson Corp. were worth $11,378,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Seven Eight Capital LLC bought a new stake in shares of McKesson Corp. during the first quarter worth $110,000. First Republic Investment Management Inc. increased its stake in shares of McKesson Corp. by 55.8% in the first quarter. First Republic Investment Management Inc. now owns 36,976 shares of the company’s stock worth $5,815,000 after buying an additional 13,242 shares during the period. Fulton Bank N.A. bought a new stake in shares of McKesson Corp. during the second quarter worth $508,000. Boltwood Capital Management increased its stake in shares of McKesson Corp. by 2.4% in the second quarter. Boltwood Capital Management now owns 4,185 shares of the company’s stock worth $781,000 after buying an additional 100 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its stake in shares of McKesson Corp. by 0.8% in the second quarter. Stock Yards Bank & Trust Co. now owns 29,109 shares of the company’s stock worth $5,433,000 after buying an additional 224 shares during the period. Institutional investors own 86.25% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.90% during midday trading on Tuesday, hitting $141.55. 920,752 shares of the stock traded hands. The company has a market capitalization of $32.00 billion, a price-to-earnings ratio of 16.97 and a beta of 1.02. The firm’s 50-day moving average is $147.23 and its 200 day moving average is $174.41. McKesson Corp. has a 52 week low of $114.53 and a 52 week high of $202.20.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The firm had revenue of $49.96 billion for the quarter, compared to the consensus estimate of $24.16 billion. During the same period in the prior year, the company earned $3.31 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts forecast that McKesson Corp. will post $12.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 annualized dividend and a yield of 0.78%. McKesson Corp.’s dividend payout ratio is 13.45%.
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A number of analysts have weighed in on MCK shares. Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Zacks Investment Research downgraded shares of McKesson Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Leerink Swann reissued an “outperform” rating and issued a $230.00 price target on shares of McKesson Corp. in a report on Thursday, September 1st. Mizuho reduced their price target on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating for the company in a report on Monday, September 26th. Finally, Robert W. Baird downgraded shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $200.00 to $164.00 in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. McKesson Corp. presently has a consensus rating of “Hold” and a consensus price target of $189.50.
In other news, Director Wayne A. Budd sold 2,309 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.70, for a total value of $414,927.30. Following the completion of the transaction, the director now owns 723 shares of the company’s stock, valued at $129,923.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at approximately $18,514,110. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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