McKesson Corporation (MCK) Stake Lifted by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 74.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,254 shares of the company’s stock after buying an additional 41,520 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in McKesson Corporation were worth $14,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in MCK. Ballentine Partners LLC purchased a new position in McKesson Corporation in the 1st quarter valued at $191,000. BlackRock Inc. lifted its holdings in McKesson Corporation by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after purchasing an additional 1,131,024 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in McKesson Corporation by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,013,942 shares in the last quarter. Renaissance Technologies LLC purchased a new position in McKesson Corporation in the 2nd quarter valued at $164,688,000. Finally, AJO LP lifted its holdings in McKesson Corporation by 742.4% in the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock valued at $106,466,000 after purchasing an additional 570,243 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) traded up $2.93 on Thursday, hitting $145.80. The company’s stock had a trading volume of 2,220,600 shares, compared to its average volume of 1,863,769. McKesson Corporation has a twelve month low of $133.82 and a twelve month high of $169.29. The firm has a market cap of $29,784.75, a P/E ratio of 11.75, a PEG ratio of 1.47 and a beta of 1.21. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. McKesson Corporation had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. During the same period last year, the company earned $2.94 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts expect that McKesson Corporation will post 12.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.
In related news, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John H. Hammergren sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The disclosure for this sale can be found here. Insiders sold a total of 949,900 shares of company stock valued at $145,403,445 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
A number of brokerages have weighed in on MCK. Royal Bank Of Canada began coverage on McKesson Corporation in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price objective on the stock. Jefferies Group LLC set a $165.00 price objective on McKesson Corporation and gave the company a “hold” rating in a report on Wednesday, October 18th. Cowen and Company upgraded McKesson Corporation from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $176.00 to $189.00 in a report on Tuesday, October 10th. Needham & Company LLC set a $179.00 price objective on McKesson Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub lowered McKesson Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $174.27.
McKesson Corporation 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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