Meiji Yasuda Asset Management Co Ltd. boosted its holdings in McKesson Co. (NYSE:MCK) by 68.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,756 shares of the company’s stock after buying an additional 1,120 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in McKesson were worth $423,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Miracle Mile Advisors LLC increased its stake in McKesson by 2.1% in the 2nd quarter. Miracle Mile Advisors LLC now owns 3,545 shares of the company’s stock worth $544,000 after buying an additional 72 shares in the last quarter. Bank of Hawaii grew its holdings in McKesson by 1.8% in the first quarter. Bank of Hawaii now owns 4,660 shares of the company’s stock worth $630,000 after purchasing an additional 81 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in McKesson by 2.6% in the first quarter. Motley Fool Asset Management LLC now owns 3,308 shares of the company’s stock worth $447,000 after purchasing an additional 85 shares during the last quarter. Gofen & Glossberg LLC IL grew its holdings in McKesson by 4.2% in the second quarter. Gofen & Glossberg LLC IL now owns 2,111 shares of the company’s stock worth $324,000 after purchasing an additional 85 shares during the last quarter. Finally, Colony Group LLC grew its holdings in McKesson by 2.6% in the first quarter. Colony Group LLC now owns 3,813 shares of the company’s stock worth $516,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 86.55% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of McKesson from $140.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Guggenheim boosted their price objective on shares of McKesson from $168.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating and set a $161.00 price objective on the stock. in a report on Thursday, July 16th. UBS Group boosted their price objective on shares of McKesson from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Deutsche Bank raised shares of McKesson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $202.00 in a report on Tuesday, August 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $177.79.
MCK traded down $2.55 during trading on Friday, hitting $151.77. The company had a trading volume of 12,351 shares, compared to its average volume of 998,429. The company has a market cap of $25.34 billion, a PE ratio of 10.81, a P/E/G ratio of 1.65 and a beta of 0.77. The business has a 50-day moving average of $153.89 and a 200-day moving average of $146.81. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.00 and a quick ratio of 0.57. McKesson Co. has a 1-year low of $112.60 and a 1-year high of $172.18.
McKesson (NYSE:MCK) last posted its quarterly earnings results on Monday, August 3rd. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.35 by $0.42. The firm had revenue of $55.68 billion for the quarter, compared to analysts’ expectations of $54.16 billion. McKesson had a net margin of 0.40% and a return on equity of 42.33%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $3.31 earnings per share. Research analysts forecast that McKesson Co. will post 15.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from McKesson’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, August 31st. McKesson’s dividend payout ratio is 11.24%.
In other McKesson news, Director Marie L/Ca Knowles sold 1,157 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $150.83, for a total transaction of $174,510.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by corporate insiders.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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