2 weeks Ago By Defense World Staff
Brandes Investment Partners LP reduced its position in McKesson Co. ( NYSE:MCK – Free Report ) by 2.4% during the 2nd quarter, according to its most recent filing with the SEC.
The firm owned 284,470 shares of the company’s stock after selling 7,068 shares during the quarter. McKesson comprises about 2.0% of Brandes Investment Partners LP’s holdings, making the stock its 12th largest position.
Brandes Investment Partners LP owned approximately 0.22% of McKesson worth $166,307,000 at the end of the most recent reporting period. Several other hedge funds also recently made changes to their positions in MCK.
LRI Investments LLC purchased a new position in shares of McKesson in the 1st quarter valued at about $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc.
purchased a new position in McKesson in the 4th quarter valued at approximately $31,000. Carolinas Wealth Consulting LLC raised its holdings in McKesson by 42.9% during the fourth quarter.
Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in McKesson during the fourth quarter worth $40,000. Institutional investors and hedge funds own 85.
07% of the company’s stock. Insider Activity In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th.
The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30.
Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .
Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.
McKesson Stock Performance McKesson ( NYSE:MCK – Get Free Report ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.
21 by $0.67. McKesson had a negative return on equity of 242.
57% and a net margin of 0.94%. The firm had revenue of $79.
28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the company earned $7.
27 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year.
As a group, analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.
McKesson Increases Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share.
This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.
84 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, August 30th.
McKesson’s dividend payout ratio (DPR) is currently 12.69%. Analyst Upgrades and Downgrades Several research analysts have recently issued reports on the company.
Leerink Partners cut their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.
Evercore ISI cut their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th.
Citigroup lowered their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th.
Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th.
Finally, Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $613.
36. View Our Latest Stock Analysis on McKesson About McKesson ( 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 Five stocks we like better than McKesson How to Calculate Return on Investment (ROI) 3 Bargain Stocks Under $20 With Major Growth Potential What is Short Interest? How to Use It Top 5 ETFs to Own Now and Into 2025 Stock Market Sectors: What Are They and How Many Are There? Watch These 3 Former Short-Squeeze Stocks for a Big Rally Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.
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