McKesson Corp. (MCK) Position Boosted by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. increased its position in shares of McKesson Corp. (NYSE:MCK) by 16.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773,709 shares of the company’s stock after buying an additional 110,017 shares during the period. UBS Asset Management Americas Inc.’s holdings in McKesson Corp. were worth $129,017,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Seven Eight Capital LLC purchased a new stake in McKesson Corp. during the first quarter worth approximately $110,000. Kelman Lazarov Inc. purchased a new stake in McKesson Corp. during the second quarter worth approximately $115,000. Welch Group LLC purchased a new stake in McKesson Corp. during the second quarter worth approximately $126,000. Winslow Evans & Crocker Inc. increased its stake in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock worth $152,000 after buying an additional 101 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in McKesson Corp. by 5.7% in the third quarter. Carroll Financial Associates Inc. now owns 928 shares of the company’s stock worth $154,000 after buying an additional 50 shares during the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corp. (NYSE:MCK) opened at 141.25 on Wednesday. The company has a market cap of $31.93 billion, a P/E ratio of 16.93 and a beta of 1.02. The company has a 50 day moving average price of $147.23 and a 200 day moving average price of $174.41. McKesson Corp. has a one year low of $114.53 and a one year high of $202.20.
McKesson Corp. (NYSE:MCK) last posted its earnings results 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 net margin of 0.99% and a return on equity of 29.85%. The company had revenue of $49.96 billion for the quarter, compared to the consensus estimate of $24.16 billion. During the same quarter last year, the business earned $3.31 earnings per share. McKesson Corp.’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts expect that McKesson Corp. will post $12.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st will be issued 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 0.79%. McKesson Corp.’s dividend payout ratio (DPR) is currently 13.45%.
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MCK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on McKesson Corp. from $210.00 to $221.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Mizuho upped their price objective on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Leerink Swann restated an “outperform” rating and issued a $230.00 price objective on shares of McKesson Corp. in a research report on Thursday, September 1st. Goldman Sachs Group Inc. downgraded McKesson Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $210.00 to $189.00 in a research report on Friday, September 16th. Finally, Vetr upgraded McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. McKesson Corp. presently has a consensus rating of “Hold” and a consensus target price of $189.50.
In other McKesson Corp. news, Director Susan R. Salka acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were acquired at an average cost of $136.35 per share, for a total transaction of $136,350.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of McKesson Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $165.94, for a total value of $288,569.66. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.
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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