McKesson Co. (MCK) Stake Lessened by Keeler Thomas Management LLC
Keeler Thomas Management LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the company’s stock after selling 600 shares during the quarter. Keeler Thomas Management LLC’s holdings in McKesson were worth $344,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norinchukin Bank The lifted its stake in shares of McKesson by 12.2% in the 3rd quarter. Norinchukin Bank The now owns 25,696 shares of the company’s stock worth $3,409,000 after purchasing an additional 2,803 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of McKesson by 141.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,425 shares of the company’s stock worth $189,000 after purchasing an additional 836 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of McKesson by 6.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 94,707 shares of the company’s stock worth $12,563,000 after purchasing an additional 5,329 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of McKesson by 27.2% in the 3rd quarter. Commonwealth Bank of Australia now owns 134,243 shares of the company’s stock worth $17,801,000 after purchasing an additional 28,700 shares during the period. Finally, Twin Capital Management Inc. lifted its stake in shares of McKesson by 13.8% in the 3rd quarter. Twin Capital Management Inc. now owns 60,590 shares of the company’s stock worth $8,038,000 after purchasing an additional 7,363 shares during the period. 88.34% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on MCK shares. Jefferies Financial Group reiterated a “buy” rating and issued a $160.00 price objective on shares of McKesson in a research note on Friday, July 27th. Citigroup lowered their price objective on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a research note on Friday, July 20th. Barclays lowered their price objective on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada set a $155.00 price objective on shares of McKesson and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, Mizuho restated a “hold” rating and set a $133.00 target price on shares of McKesson in a research note on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. McKesson currently has a consensus rating of “Hold” and a consensus price target of $150.26.
McKesson (NYSE:MCK) last released its earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. The company had revenue of $53.08 billion for the quarter, compared to analysts’ expectations of $53.56 billion. McKesson had a net margin of 0.06% and a return on equity of 26.55%. As a group, analysts expect that McKesson Co. will post 13.41 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, November 30th. McKesson’s payout ratio is currently 12.36%.
In other news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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