Manning & Napier Group LLC cut its stake in shares of McKesson (NYSE:MCK) by 83.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,165 shares of the company’s stock after selling 16,539 shares during the period. Manning & Napier Group LLC’s holdings in McKesson were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of MCK. Vulcan Value Partners LLC raised its holdings in shares of McKesson by 9.2% in the fourth quarter. Vulcan Value Partners LLC now owns 3,612,389 shares of the company’s stock worth $563,352,000 after buying an additional 305,492 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of McKesson by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,697,323 shares of the company’s stock worth $420,648,000 after buying an additional 157,018 shares during the period. Pzena Investment Management LLC raised its holdings in shares of McKesson by 5.8% in the fourth quarter. Pzena Investment Management LLC now owns 2,600,401 shares of the company’s stock worth $405,533,000 after buying an additional 141,870 shares during the period. Alliancebernstein L.P. raised its holdings in shares of McKesson by 1.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,450,313 shares of the company’s stock worth $382,126,000 after buying an additional 37,023 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of McKesson by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,270,865 shares of the company’s stock worth $353,418,000 after buying an additional 12,150 shares during the period. Institutional investors and hedge funds own 88.75% of the company’s stock.
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Shares of NYSE:MCK opened at $144.28 on Tuesday. McKesson has a 52-week low of $134.25 and a 52-week high of $178.86. The company has a market capitalization of $30.29 billion, a P/E ratio of 11.71, a PEG ratio of 1.35 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63.
McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The company had revenue of $53.62 billion for the quarter, compared to analysts’ expectations of $51.98 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. McKesson’s revenue was up 7.0% compared to the same quarter last year. equities research analysts predict that McKesson will post 12.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $1.36 annualized dividend and a yield of 0.94%. McKesson’s dividend payout ratio (DPR) is currently 11.71%.
Several equities research analysts have recently weighed in on MCK shares. Credit Suisse Group reiterated a “sell” rating and issued a $130.00 price target on shares of McKesson in a report on Friday, February 2nd. Barclays started coverage on McKesson in a report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 price target on the stock. Zacks Investment Research downgraded McKesson from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Needham & Company LLC increased their price target on McKesson from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Mizuho reduced their price target on McKesson from $186.00 to $179.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. McKesson presently has a consensus rating of “Hold” and an average target price of $176.32.
In other McKesson news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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