2 weeks Ago By ABMN Staff
Brandes Investment Partners LP lowered its stake in shares of McKesson Co. ( NYSE:MCK – Free Report ) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The firm owned 284,470 shares of the company’s stock after selling 7,068 shares during the quarter. McKesson comprises approximately 2.0% of Brandes Investment Partners LP’s holdings, making the stock its 12th largest holding.
Brandes Investment Partners LP’s holdings in McKesson were worth $166,307,000 as of its most recent SEC filing. Other large investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $28,000.
Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter valued at about $31,000.
Carolinas Wealth Consulting LLC boosted its holdings in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares in the last quarter.
Finally, ICA Group Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $40,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets Several equities research analysts have recently commented on MCK shares. Argus lifted their target price on McKesson from $570.00 to $670.
00 and gave the company a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.
00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.
00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Barclays raised their target price on shares of McKesson from $596.00 to $616.
00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock.
Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $613.36. Insider Activity In related news, CEO Brian S.
Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.
76. Following the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64.
The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link . In the last quarter, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.
11% of the company’s stock. McKesson Trading Up 1.9 % Shares of NYSE MCK opened at $488.
25 on Monday. The business’s 50 day moving average is $550.84 and its 200-day moving average is $555.
82. The firm has a market cap of $63.44 billion, a P/E ratio of 21.
82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.
McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.
51. McKesson ( NYSE:MCK – Get Free Report ) last announced its earnings results on Wednesday, August 7th. The company reported $7.
88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67.
McKesson had a net margin of 0.94% and a negative return on equity of 242.57%.
The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion.
During the same quarter in the previous year, the business posted $7.27 earnings per share. McKesson’s quarterly revenue was up 6.
4% on a year-over-year basis. Analysts forecast that McKesson Co. will post 32.
07 EPS for the current year. McKesson Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.
71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.
58%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.
62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.
McKesson Profile ( Free Report ) McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S.
Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S.
Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products. See Also Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co.
( NYSE:MCK – Free Report ). Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter .
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