Tdam USA Inc. Sells 1,884 Shares of McKesson Corporation (MCK)
Tdam USA Inc. lessened its holdings in McKesson Corporation (NYSE:MCK) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,724 shares of the company’s stock after selling 1,884 shares during the quarter. Tdam USA Inc.’s holdings in McKesson Corporation were worth $9,328,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in MCK. TD Asset Management Inc. grew its holdings in shares of McKesson Corporation by 2.2% during the third quarter. TD Asset Management Inc. now owns 972,111 shares of the company’s stock valued at $149,326,000 after buying an additional 20,988 shares during the last quarter. South Dakota Investment Council grew its holdings in shares of McKesson Corporation by 42.5% during the third quarter. South Dakota Investment Council now owns 97,290 shares of the company’s stock valued at $14,945,000 after buying an additional 29,000 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of McKesson Corporation during the third quarter valued at approximately $254,000. Morningstar Investment Services LLC grew its holdings in shares of McKesson Corporation by 8.9% during the third quarter. Morningstar Investment Services LLC now owns 254,700 shares of the company’s stock valued at $39,124,000 after buying an additional 20,864 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of McKesson Corporation by 3.5% during the third quarter. Van ECK Associates Corp now owns 301,524 shares of the company’s stock valued at $46,317,000 after buying an additional 10,261 shares during the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
In other McKesson Corporation news, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the transaction, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,391,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 $25,543,650. The disclosure for this sale can be found here. Insiders sold 949,900 shares of company stock worth $145,403,445 over the last quarter. Insiders own 1.20% of the company’s stock.
A number of research firms have recently commented on MCK. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Mizuho set a $168.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird upgraded shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Finally, Needham & Company LLC set a $179.00 price target on shares of McKesson Corporation and gave the company a “buy” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $174.27.
Shares of McKesson Corporation (NYSE MCK) traded down $1.12 during trading on Friday, reaching $144.68. 317,061 shares of the company were exchanged, compared to its average volume of 1,863,769. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66. McKesson Corporation has a 12 month low of $133.82 and a 12 month high of $169.29. The company has a market capitalization of $30,395.58, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping 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 business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same period last year, the firm earned $2.94 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. equities research analysts predict that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.94%. McKesson Corporation’s payout ratio is presently 6.45%.
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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