McKesson Co. (MCK) Position Raised by Martin & Co. Inc. TN
Martin & Co. Inc. TN boosted its position in McKesson Co. (NYSE:MCK) by 21.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 28,442 shares of the company’s stock after purchasing an additional 4,949 shares during the period. McKesson comprises 1.2% of Martin & Co. Inc. TN’s holdings, making the stock its 25th largest position. Martin & Co. Inc. TN’s holdings in McKesson were worth $3,794,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MCK. Boston Partners lifted its position in McKesson by 54.5% during the second quarter. Boston Partners now owns 6,237,042 shares of the company’s stock worth $832,021,000 after acquiring an additional 2,200,669 shares during the last quarter. Vulcan Value Partners LLC raised its position in shares of McKesson by 7.8% in the second quarter. Vulcan Value Partners LLC now owns 3,768,099 shares of the company’s stock valued at $502,664,000 after buying an additional 273,090 shares in the last quarter. Unigestion Holding SA acquired a new stake in shares of McKesson in the second quarter valued at approximately $35,787,000. Natixis raised its position in shares of McKesson by 478.0% in the first quarter. Natixis now owns 303,831 shares of the company’s stock valued at $42,801,000 after buying an additional 251,267 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of McKesson in the second quarter valued at approximately $33,331,000. Institutional investors and hedge funds own 88.58% of the company’s stock.
A number of brokerages recently issued reports on MCK. Standpoint Research raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Royal Bank of Canada reissued a “hold” rating and issued a $152.00 price objective on shares of McKesson in a research note on Friday, July 27th. Morgan Stanley decreased their price objective on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. JPMorgan Chase & Co. decreased their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, July 27th. Finally, Mizuho reaffirmed a “hold” rating and set a $133.00 target price on shares of McKesson in a research note on Sunday, August 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $154.30.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, July 26th. The company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.01. The company had revenue of $52.61 billion for the quarter, compared to analyst estimates of $52.91 billion. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. McKesson’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.47 earnings per share. sell-side analysts predict that McKesson Co. will post 13.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Friday, August 31st. This is a positive change from McKesson’s previous quarterly dividend of $0.34. McKesson’s payout ratio is 12.36%.
In other news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by 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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