State Board of Administration of Florida Retirement System reduced its holdings in McKesson Co. (NYSE:MCK) by 13.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,965 shares of the company’s stock after selling 32,240 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of McKesson worth $38,624,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Camarda Financial Advisors LLC increased its position in McKesson by 3.2% in the 2nd quarter. Camarda Financial Advisors LLC now owns 4,539 shares of the company’s stock worth $868,000 after buying an additional 142 shares during the period. Rockefeller Capital Management L.P. increased its position in McKesson by 115.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 19,904 shares of the company’s stock worth $3,806,000 after buying an additional 10,658 shares during the period. First Mercantile Trust Co. grew its holdings in shares of McKesson by 16.5% during the 2nd quarter. First Mercantile Trust Co. now owns 3,240 shares of the company’s stock worth $620,000 after purchasing an additional 458 shares in the last quarter. Sivik Global Healthcare LLC grew its holdings in shares of McKesson by 33.3% during the 2nd quarter. Sivik Global Healthcare LLC now owns 40,000 shares of the company’s stock worth $7,650,000 after purchasing an additional 10,000 shares in the last quarter. Finally, F3Logic LLC grew its holdings in shares of McKesson by 33.8% during the 2nd quarter. F3Logic LLC now owns 10,754 shares of the company’s stock worth $2,057,000 after purchasing an additional 2,719 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft lifted their price objective on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Credit Suisse Group lifted their price objective on McKesson from $222.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Buy” and an average price target of $224.13.
Shares of MCK stock opened at $203.99 on Wednesday. The stock’s fifty day simple moving average is $199.56 and its 200 day simple moving average is $194.07. The company has a debt-to-equity ratio of 82.70, a current ratio of 0.99 and a quick ratio of 0.53. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of -7.22, a P/E/G ratio of 1.33 and a beta of 0.88. McKesson Co. has a one year low of $141.32 and a one year high of $210.00.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 4th. The company reported $5.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $1.47. McKesson had a positive return on equity of 216.39% and a negative net margin of 1.83%. The business had revenue of $62.67 billion for the quarter, compared to analyst estimates of $60.16 billion. During the same quarter in the previous year, the firm earned $2.77 EPS. McKesson’s quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts anticipate that McKesson Co. will post 20.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 1st will be given a $0.47 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, August 31st. This represents a $1.88 annualized dividend and a yield of 0.92%. McKesson’s payout ratio is presently 10.92%.
McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).
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