McKesson Corporation (MCK) Given a $165.00 Price Target at Jefferies Group LLC
MCK has been the subject of several other research reports. Vetr upgraded shares of McKesson Corporation from a buy rating to a strong-buy rating and set a $181.27 price target for the company in a report on Monday, June 19th. Zacks Investment Research cut shares of McKesson Corporation from a hold rating to a sell rating in a report on Wednesday, May 3rd. BidaskClub cut shares of McKesson Corporation from a hold rating to a sell rating in a report on Wednesday, August 9th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a neutral rating to an overweight rating and set a $189.00 target price for the company in a report on Tuesday, May 23rd. Finally, Mizuho increased their target price on shares of McKesson Corporation from $147.00 to $168.00 and gave the stock a neutral rating in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $171.91.
Shares of McKesson Corporation (NYSE:MCK) opened at 149.41 on Tuesday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $186.28. The firm’s 50 day moving average is $155.54 and its 200-day moving average is $152.71. The firm has a market cap of $31.41 billion, a price-to-earnings ratio of 6.78 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.50 EPS. Equities research analysts predict that McKesson Corporation will post $12.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. McKesson Corporation’s dividend payout ratio is presently 6.07%.
In other news, Director M Christine Jacobs sold 1,083 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. bought a new position in shares of McKesson Corporation during the second quarter valued at $379,000. Gs Investments Inc. acquired a new position in McKesson Corporation during the second quarter worth approximately $1,679,000. Achmea Investment Management B.V. raised its position in McKesson Corporation by 25.4% in the second quarter. Achmea Investment Management B.V. now owns 23,564 shares of the company’s stock worth $3,875,000 after buying an additional 4,774 shares in the last quarter. WFG Advisors LP raised its position in McKesson Corporation by 5.0% in the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after buying an additional 41 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in McKesson Corporation by 21.3% in the second quarter. Toronto Dominion Bank now owns 79,987 shares of the company’s stock worth $13,162,000 after buying an additional 14,063 shares in the last quarter. 85.26% of the stock is currently owned by institutional investors.
McKesson Corporation 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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