Benjamin Edwards Inc. raised its stake in McKesson Co. (NYSE:MCK – Free Report) by 58.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,917 shares of the company’s stock after purchasing an additional 2,194 shares during the period. Benjamin Edwards Inc.’s holdings in McKesson were worth $2,930,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA boosted its holdings in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC boosted its holdings in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. Legal & General Group Plc boosted its holdings in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. 85.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
MCK has been the subject of a number of research reports. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday. They issued a “neutral” rating and a $630.00 price objective for the company. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $635.86.
McKesson Stock Down 1.0 %
Shares of NYSE:MCK opened at $611.91 on Thursday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s 50-day moving average price is $549.95 and its two-hundred day moving average price is $561.22. The firm has a market cap of $77.68 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.34 and a beta of 0.49.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 EPS. As a group, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.
McKesson Company Profile
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.
Read More
- Five stocks we like better than McKesson
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Tesla Poised to Hit Record Highs This Holiday Season
- Ride Out The Recession With These Dividend Kings
- The Salesforce Rally is Just Getting Started: Here’s Why
- Manufacturing Stocks Investing
- 3 Chip and Data Center Stocks That Can Keep Rising in 2025
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK – Free Report).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.