CHICAGO TRUST Co NA Acquires 113 Shares of McKesson Co. (NYSE:MCK)
CHICAGO TRUST Co NA increased its holdings in McKesson Co. (NYSE:MCK) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,377 shares of the company’s stock after acquiring an additional 113 shares during the period. CHICAGO TRUST Co NA’s holdings in McKesson were worth $1,965,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of McKesson by 1.8% during the first quarter. Envestnet Asset Management Inc. now owns 70,588 shares of the company’s stock valued at $8,263,000 after purchasing an additional 1,265 shares in the last quarter. MML Investors Services LLC raised its position in McKesson by 15.3% in the first quarter. MML Investors Services LLC now owns 12,388 shares of the company’s stock worth $1,450,000 after acquiring an additional 1,646 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in McKesson by 91.7% in the first quarter. Rockefeller Capital Management L.P. now owns 1,760 shares of the company’s stock worth $206,000 after acquiring an additional 842 shares in the last quarter. OppenheimerFunds Inc. raised its position in McKesson by 14.2% in the first quarter. OppenheimerFunds Inc. now owns 165,652 shares of the company’s stock worth $19,391,000 after acquiring an additional 20,661 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in McKesson by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 46,519 shares of the company’s stock worth $5,445,000 after acquiring an additional 3,318 shares in the last quarter. 86.62% of the stock is owned by institutional investors.
NYSE MCK traded up $1.96 on Wednesday, hitting $132.23. 1,001,999 shares of the company were exchanged, compared to its average volume of 1,523,844. The company’s 50 day moving average price is $140.34 and its 200-day moving average price is $132.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.01 and a quick ratio of 0.58. The firm has a market capitalization of $24.08 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14. McKesson Co. has a twelve month low of $106.11 and a twelve month high of $150.82.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is presently 12.09%.
Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of McKesson from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. assumed coverage on shares of McKesson in a research report on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price target on the stock. Deutsche Bank assumed coverage on shares of McKesson in a research report on Thursday, September 12th. They issued a “hold” rating and a $155.00 price target on the stock. Credit Suisse Group assumed coverage on shares of McKesson in a research report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price target on the stock. Finally, TheStreet upgraded shares of McKesson from a “c” rating to a “b” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $147.20.
In other McKesson news, Director M Christine Jacobs sold 1,296 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $146.65, for a total transaction of $190,058.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 6,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $135.00, for a total value of $810,000.00. Following the sale, the chief executive officer now owns 18,192 shares in the company, valued at approximately $2,455,920. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,218 shares of company stock worth $1,421,738. Corporate insiders own 0.88% of the company’s stock.
McKesson Company Profile
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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