McKesson Corp. (MCK) Stake Boosted by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC increased its position in McKesson Corp. (NYSE:MCK) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,492 shares of the company’s stock after buying an additional 7,584 shares during the period. Nisa Investment Advisors LLC’s holdings in McKesson Corp. were worth $17,591,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of MCK. Seven Eight Capital LLC bought a new position in McKesson Corp. during the first quarter worth $110,000. Kelman Lazarov Inc. bought a new position in McKesson Corp. during the second quarter worth $115,000. Welch Group LLC bought a new position in McKesson Corp. during the second quarter worth $126,000. Winslow Evans & Crocker Inc. increased its position 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 in the last quarter. Finally, Carroll Financial Associates Inc. increased its position 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 in the last quarter. 86.25% of the stock is currently owned by institutional investors.
McKesson Corp. (NYSE:MCK) traded up 0.37% on Monday, hitting $143.60. 864,769 shares of the stock traded hands. The stock has a 50-day moving average of $147.88 and a 200-day moving average of $174.51. McKesson Corp. has a 12-month low of $114.53 and a 12-month high of $202.20. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 17.21 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing the Zacks’ 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 earned $49.96 billion during the quarter, compared to analyst estimates of $24.16 billion. During the same quarter in the previous year, the firm posted $3.31 earnings per share. McKesson Corp.’s quarterly revenue was up 2.5% compared to the same quarter last year. 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. Stockholders of record on Thursday, December 1st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 29th. McKesson Corp.’s payout ratio is 13.45%.
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A number of equities analysts have weighed in on the stock. Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 16th. Robert W. Baird downgraded shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and cut their target price for the company from $200.00 to $164.00 in a research note on Friday, October 28th. Standpoint Research downgraded shares of McKesson Corp. from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Mizuho raised their target price on shares of McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Finally, Argus reissued a “hold” rating on shares of McKesson Corp. in a research note on Monday, September 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. McKesson Corp. currently has a consensus rating of “Hold” and an average price target of $189.50.
In other news, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total value of $18,514,110.00. Following the completion of the sale, the chairman now directly owns 100,500 shares in the company, valued at $18,514,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin M. Lampert sold 921 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $123.99, for a total transaction of $114,194.79. Following the completion of the sale, the senior vice president now owns 1,765 shares of the company’s stock, valued at $218,842.35. The disclosure for this sale can be found here. 1.15% of the stock is currently 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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