McKesson Corporation (MCK) Stake Increased by Swiss National Bank
Swiss National Bank increased its holdings in McKesson Corporation (NYSE:MCK) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 777,991 shares of the company’s stock after acquiring an additional 3,800 shares during the quarter. Swiss National Bank owned approximately 373,172.97% of McKesson Corporation worth $119,507,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Family Firm Inc. lifted its stake in McKesson Corporation by 0.3% in the second quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock worth $316,000 after acquiring an additional 5 shares during the period. Cypress Capital Group lifted its stake in McKesson Corporation by 0.3% in the second quarter. Cypress Capital Group now owns 3,588 shares of the company’s stock worth $590,000 after acquiring an additional 10 shares during the period. Tompkins Financial Corp lifted its stake in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after acquiring an additional 18 shares during the period. First Financial Bank Trust Division lifted its stake in McKesson Corporation by 1.3% in the second quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock worth $298,000 after acquiring an additional 23 shares during the period. Finally, SOL Capital Management CO lifted its stake in McKesson Corporation by 0.9% in the second quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock worth $585,000 after acquiring an additional 30 shares during the period. 85.95% of the stock is owned by institutional investors.
MCK has been the subject of a number of research reports. BidaskClub lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $175.00 to $178.00 in a research note on Tuesday, September 19th. Mizuho set a $168.00 price objective on shares of McKesson Corporation and gave the stock a “hold” rating in a research note on Tuesday, October 24th. TheStreet lowered shares of McKesson Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Finally, ValuEngine raised shares of McKesson Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. McKesson Corporation presently has an average rating of “Hold” and a consensus price target of $174.27.
McKesson Corporation (NYSE:MCK) traded down $0.74 on Friday, hitting $139.37. 254,839 shares of the stock traded hands, compared to its average volume of 1,831,996. McKesson Corporation has a 12-month low of $133.82 and a 12-month high of $169.29. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $29,261.48, a P/E ratio of 11.54, a P/E/G ratio of 1.44 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The firm had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter in the prior year, the company posted $2.94 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that McKesson Corporation will post 12.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.45%.
In related news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares in the company, valued at approximately $25,543,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 950,983 shares of company stock worth $145,560,946. Corporate insiders own 1.20% of the company’s stock.
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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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