Horan Capital Management Sells 264 Shares of McKesson Co. (MCK)
Horan Capital Management cut its position in shares of McKesson Co. (NYSE:MCK) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 22,954 shares of the company’s stock after selling 264 shares during the period. Horan Capital Management’s holdings in McKesson were worth $2,687,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of McKesson by 173.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 520,286 shares of the company’s stock valued at $69,016,000 after acquiring an additional 329,814 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of McKesson during the 3rd quarter valued at about $600,000. Point72 Asset Management L.P. acquired a new position in shares of McKesson during the 3rd quarter valued at about $4,497,000. Lowe Brockenbrough & Co. Inc. increased its holdings in shares of McKesson by 3.1% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 31,113 shares of the company’s stock valued at $4,127,000 after acquiring an additional 935 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC increased its holdings in shares of McKesson by 13,239.1% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 987,361 shares of the company’s stock valued at $7,402,000 after acquiring an additional 979,959 shares during the last quarter. 86.60% of the stock is owned by institutional investors.
Shares of NYSE:MCK traded up $1.16 during trading on Monday, hitting $117.21. 1,052,288 shares of the stock were exchanged, compared to its average volume of 1,564,436. McKesson Co. has a 1-year low of $106.11 and a 1-year high of $160.84. The firm has a market capitalization of $22.35 billion, a PE ratio of 9.29, a PEG ratio of 1.16 and a beta of 1.24. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, February 28th. McKesson’s payout ratio is presently 12.36%.
A number of research analysts have recently commented on MCK shares. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. UBS Group assumed coverage on McKesson in a report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 target price on the stock. Zacks Investment Research lowered McKesson from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a report on Friday, January 25th. Finally, Barclays reaffirmed a “hold” rating and issued a $130.00 target price on shares of McKesson in a report on Friday, February 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. McKesson currently has an average rating of “Hold” and a consensus price target of $134.90.
In other news, EVP Lori A. Schechter sold 7,700 shares of McKesson stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total transaction of $946,792.00. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $1,229,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by company insiders.
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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