Strategic Wealth Partners Ltd. Buys 921 Shares of McKesson Co. (MCK)
Strategic Wealth Partners Ltd. grew its stake in McKesson Co. (NYSE:MCK) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,137 shares of the company’s stock after acquiring an additional 921 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in McKesson were worth $1,079,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Morgan Stanley increased its stake in shares of McKesson by 7.0% in the 3rd quarter. Morgan Stanley now owns 664,384 shares of the company’s stock worth $88,132,000 after acquiring an additional 43,589 shares during the last quarter. Legal & General Group Plc increased its stake in shares of McKesson by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 1,200,128 shares of the company’s stock worth $159,197,000 after acquiring an additional 18,500 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of McKesson by 14,640.7% in the 3rd quarter. Rehmann Capital Advisory Group now owns 594,049 shares of the company’s stock worth $4,478,000 after acquiring an additional 590,019 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of McKesson by 171.7% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 6,250 shares of the company’s stock worth $829,000 after acquiring an additional 3,950 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of McKesson by 48.8% in the 3rd quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock worth $437,856,000 after acquiring an additional 1,082,398 shares during the last quarter. 85.46% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. Mizuho reissued a “hold” rating and set a $133.00 price objective on shares of McKesson in a research report on Sunday, August 12th. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, November 16th. Morgan Stanley cut their price objective on McKesson from $142.00 to $130.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the stock a “hold” rating in a research report on Friday, October 26th. Finally, Barclays cut their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a research report on Friday, October 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $147.63.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. The firm had revenue of $53.08 billion during the quarter, compared to the consensus estimate of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. As a group, equities research analysts predict that McKesson Co. will post 13.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, November 30th. McKesson’s dividend payout ratio (DPR) is 12.36%.
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McKesson Company Profile
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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