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. The fund owned 773,709 shares of the company’s stock after buying an additional 110,017 shares during the period. UBS Asset Management Americas Inc. owned 0.34% of McKesson Corp. worth $129,017,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Coconut Grove Bank increased its position in McKesson Corp. by 11.4% in the third quarter. Coconut Grove Bank now owns 1,643 shares of the company’s stock worth $274,000 after buying an additional 168 shares during the last quarter. TIAA CREF Trust Co. FSB MO increased its position in shares of McKesson Corp. by 0.4% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 63,175 shares of the company’s stock valued at $10,534,000 after buying an additional 241 shares in the last quarter. Lucus Advisors LLC increased its position in shares of McKesson Corp. by 27.4% in the third quarter. Lucus Advisors LLC now owns 2,383 shares of the company’s stock valued at $397,000 after buying an additional 513 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of McKesson Corp. by 48.3% in the third quarter. Retirement Systems of Alabama now owns 170,154 shares of the company’s stock valued at $28,373,000 after buying an additional 55,435 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of McKesson Corp. during the third quarter valued at $311,000. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corp. (NYSE:MCK) opened at 141.25 on Wednesday. McKesson Corp. has a 52 week low of $114.53 and a 52 week high of $202.20. The stock has a market capitalization of $31.93 billion, a price-to-earnings ratio of 16.93 and a beta of 1.02. The stock’s 50 day moving average is $147.23 and its 200-day moving average is $174.41.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $2.94 EPS 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 firm earned $49.96 billion during the quarter, compared to analyst estimates of $24.16 billion. During the same period in the prior year, the company posted $3.31 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, analysts anticipate that McKesson Corp. will post $12.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.79%. The ex-dividend date is Tuesday, November 29th. McKesson Corp.’s dividend payout ratio is currently 13.45%.
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Several equities analysts have weighed in on MCK shares. Standpoint Research raised shares of McKesson Corp. from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a report on Friday, October 28th. Zacks Investment Research downgraded shares of McKesson Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Leerink Swann downgraded shares of McKesson Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Goldman Sachs Group Inc. downgraded shares of McKesson Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $210.00 to $189.00 in a report on Friday, September 16th. Finally, Robert W. Baird downgraded shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $200.00 to $164.00 in a report on Friday, October 28th. Two investment 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. McKesson Corp. presently has a consensus rating of “Hold” and a consensus price target of $189.50.
In related news, SVP Erin M. Lampert sold 1,739 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $165.94, for a total transaction of $288,569.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 921 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $123.99, for a total value 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 owned by corporate insiders.
About McKesson Corp.
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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