TrimTabs Asset Management LLC Lowers Holdings in McKesson Co. (NYSE:MCK)
TrimTabs Asset Management LLC cut its position in McKesson Co. (NYSE:MCK) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,201 shares of the company’s stock after selling 64 shares during the quarter. McKesson accounts for about 1.0% of TrimTabs Asset Management LLC’s holdings, making the stock its 26th largest holding. TrimTabs Asset Management LLC’s holdings in McKesson were worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TRU Independence Asset Management 2 LLC purchased a new stake in McKesson in the 4th quarter worth approximately $25,000. Encompass Wealth Advisors LLC purchased a new stake in McKesson in the 4th quarter worth approximately $25,000. AlphaMark Advisors LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $26,000. Charter Oak Capital Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $27,000. Finally, Childress Capital Advisors LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 85.60% of the company’s stock.
Several research firms have recently weighed in on MCK. TheStreet cut shares of McKesson from a “b” rating to a “d” rating in a research report on Tuesday, February 2nd. Mizuho increased their target price on shares of McKesson from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Wednesday, February 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $222.00 to $231.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. Credit Suisse Group raised their price target on shares of McKesson from $178.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, February 3rd. Finally, Morgan Stanley raised their price target on shares of McKesson from $219.00 to $226.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $193.31.
McKesson (NYSE:MCK) last released its quarterly earnings data on Monday, February 1st. The company reported $4.60 earnings per share for the quarter, beating the consensus estimate of $4.13 by $0.47. The firm had revenue of $62.60 billion during the quarter, compared to analysts’ expectations of $61.70 billion. McKesson had a net margin of 0.95% and a return on equity of 45.52%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.81 earnings per share. On average, research analysts expect that McKesson Co. will post 16.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Tuesday, March 2nd were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, March 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.89%. McKesson’s payout ratio is currently 11.24%.
McKesson declared that its board has approved a stock repurchase program on Tuesday, February 2nd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In other McKesson news, CFO Britt J. Vitalone sold 9,057 shares of the company’s stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $185.00, for a total value of $1,675,545.00. Following the completion of the transaction, the chief financial officer now directly owns 1,051 shares in the company, valued at $194,435. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 5,510 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $183.38, for a total transaction of $1,010,423.80. Following the completion of the transaction, the chief executive officer now owns 24,500 shares of the company’s stock, valued at $4,492,810. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,527 shares of company stock valued at $3,783,616. Company insiders own 0.28% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions, International, and Medical-Surgical Solutions. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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