Stock Yards Bank & Trust Co. Buys 45 Shares of McKesson Corp. (MCK)
Stock Yards Bank & Trust Co. increased its position in McKesson Corp. (NYSE:MCK) by 0.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,154 shares of the company’s stock after buying an additional 45 shares during the period. Stock Yards Bank & Trust Co.’s holdings in McKesson Corp. were worth $4,861,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of MCK. Vanguard Group Inc. boosted its stake in McKesson Corp. by 0.4% in the second quarter. Vanguard Group Inc. now owns 13,701,966 shares of the company’s stock worth $2,557,472,000 after buying an additional 53,238 shares in the last quarter. State Street Corp boosted its stake in McKesson Corp. by 1.9% in the second quarter. State Street Corp now owns 9,280,300 shares of the company’s stock worth $1,732,181,000 after buying an additional 169,117 shares in the last quarter. Capital Research Global Investors boosted its stake 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 worth $1,683,847,000 after buying an additional 1,297,412 shares in the last quarter. Boston Partners boosted its stake in McKesson Corp. by 108.6% in the second quarter. Boston Partners now owns 4,659,692 shares of the company’s stock worth $869,731,000 after buying an additional 2,425,685 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in McKesson Corp. by 9.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,386,458 shares of the company’s stock worth $632,083,000 after buying an additional 291,025 shares in the last quarter. Hedge funds and other institutional investors own 86.25% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded up 1.81% during trading on Wednesday, reaching $143.81. The company had a trading volume of 3,253,392 shares. The stock has a 50 day moving average of $147.23 and a 200-day moving average of $174.41. McKesson Corp. has a 12 month low of $114.53 and a 12 month high of $202.20. The company has a market capitalization of $32.51 billion, a P/E ratio of 17.24 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.05 by $0.11. The business earned $49.96 billion during the quarter, compared to analysts’ expectations of $24.16 billion. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The firm’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 research analysts expect that McKesson Corp. will post $12.53 EPS for the current fiscal year.
The firm 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 0.78%. 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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Several research firms have commented on MCK. Vetr upgraded McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Robert W. Baird cut 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. Standpoint Research cut McKesson Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Mizuho lifted their price target on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Argus restated a “hold” rating on shares of McKesson Corp. in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. McKesson Corp. presently 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 dated Tuesday, September 6th. The stock was 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 of the company’s stock, valued at approximately $18,514,110. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 921 shares of the 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 completion of 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.
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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