Gateway Investment Advisers LLC grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,893 shares of the company's stock after buying an additional 952 shares during the period. Gateway Investment Advisers LLC's holdings in McKesson were worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its position in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Norges Bank bought a new stake in shares of McKesson during the fourth quarter valued at about $1,200,361,000. Farallon Capital Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $348,044,000. Marshall Wace LLP lifted its holdings in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new position in McKesson in the 4th quarter valued at about $182,861,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts have commented on MCK shares. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $692.46.
Read Our Latest Report on McKesson
McKesson Trading Up 0.2%
NYSE MCK opened at $712.99 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The company has a market cap of $89.20 billion, a PE ratio of 32.65, a PEG ratio of 1.29 and a beta of 0.53. The stock's 50-day moving average price is $699.69 and its two-hundred day moving average price is $641.25.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter in the previous year, the business earned $6.18 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's payout ratio is presently 10.99%.
Insider Buying and Selling at McKesson
In related news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,747 shares of company stock valued at $9,852,587 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.
McKesson Company Profile
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Free Report)
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. 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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