Gulf International Bank UK Ltd Has $11,378,000 Stake in McKesson Corp. (MCK)
Gulf International Bank UK Ltd maintained its position in McKesson Corp. (NYSE:MCK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.
A number of other institutional investors have also bought and sold shares of MCK. Boston Partners increased its position in McKesson Corp. by 108.6% in the second quarter. Boston Partners now owns 4,659,692 shares of the company’s stock valued at $869,731,000 after buying an additional 2,425,685 shares in the last quarter. Capital Research Global Investors increased its position in McKesson Corp. by 16.8% in the second quarter. Capital Research Global Investors now owns 9,021,412 shares of the company’s stock valued at $1,683,847,000 after buying an additional 1,297,412 shares in the last quarter. Senator Investment Group LP bought a new position in McKesson Corp. during the second quarter valued at about $111,990,000. Hitchwood Capital Management LP bought a new position in McKesson Corp. during the second quarter valued at about $111,990,000. Finally, Alliancebernstein L.P. increased its position in McKesson Corp. by 34.4% in the second quarter. Alliancebernstein L.P. now owns 1,989,363 shares of the company’s stock valued at $371,315,000 after buying an additional 509,595 shares in the last quarter. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.90% during mid-day trading on Tuesday, reaching $141.55. 920,752 shares of the company were exchanged. McKesson Corp. has a 12 month low of $114.53 and a 12 month high of $202.20. The firm has a market capitalization of $32.00 billion, a PE ratio of 16.97 and a beta of 1.02. The company’s 50 day moving average price is $147.23 and its 200 day moving average price is $174.41.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $3.05 by $0.11. The company earned $49.96 billion during the quarter, compared to analyst estimates of $24.16 billion. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.31 earnings per share. Equities analysts anticipate that McKesson Corp. will post $12.53 earnings per share for the current year.
The business also recently declared 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 dividend payout ratio is currently 13.45%.
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MCK has been the subject of several recent research reports. Vetr upgraded 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 decreased their target price for the stock 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 increased their target price on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a research note on Thursday, August 11th. Finally, Argus reiterated a “hold” rating on shares of McKesson Corp. in a research note on Monday, September 19th. Two equities research 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. The company has a consensus rating of “Hold” and a consensus target price of $189.50.
In related news, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the sale, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 921 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $123.99, for a total transaction of $114,194.79. Following the sale, the senior vice president now directly 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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