Standard Life Aberdeen plc Has $34.24 Million Position in McKesson Co. (NYSE:MCK)
Standard Life Aberdeen plc lessened its position in McKesson Co. (NYSE:MCK) by 4.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 247,510 shares of the company’s stock after selling 11,667 shares during the period. Standard Life Aberdeen plc’s holdings in McKesson were worth $34,235,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the business. Ilmarinen Mutual Pension Insurance Co purchased a new stake in shares of McKesson in the 3rd quarter worth about $4,493,000. Voya Investment Management LLC boosted its position in shares of McKesson by 10.7% in the 3rd quarter. Voya Investment Management LLC now owns 205,895 shares of the company’s stock worth $28,137,000 after purchasing an additional 19,982 shares in the last quarter. Voya Financial Advisors Inc. grew its stake in McKesson by 2.2% during the 3rd quarter. Voya Financial Advisors Inc. now owns 11,605 shares of the company’s stock worth $1,573,000 after buying an additional 255 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its stake in McKesson by 36.8% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 26,728 shares of the company’s stock worth $3,653,000 after buying an additional 7,186 shares during the last quarter. Finally, Virtu Financial LLC increased its position in McKesson by 703.6% during the 3rd quarter. Virtu Financial LLC now owns 13,685 shares of the company’s stock valued at $1,870,000 after buying an additional 11,982 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.
A number of research firms have commented on MCK. Credit Suisse Group reiterated a “hold” rating and issued a $145.00 price target on shares of McKesson in a research note on Wednesday, March 18th. Guggenheim upgraded shares of McKesson from a “neutral” rating to a “buy” rating in a report on Friday, March 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $164.00 to $197.00 in a research report on Friday, February 7th. UBS Group lowered shares of McKesson to a “sell” rating and set a $147.00 price target on the stock. in a research note on Thursday, January 9th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $182.00 price target on shares of McKesson in a report on Friday, March 6th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. McKesson currently has an average rating of “Hold” and a consensus price target of $166.09.
McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $3.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.56 by $0.25. McKesson had a negative net margin of 0.41% and a positive return on equity of 36.40%. The company had revenue of $59.17 billion for the quarter, compared to the consensus estimate of $59.10 billion. During the same quarter in the prior year, the company earned $3.40 EPS. McKesson’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 14.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, February 28th. McKesson’s dividend payout ratio (DPR) is 12.09%.
In related news, CEO Brian S. Tyler sold 4,063 shares of McKesson stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $124.77, for a total value of $506,940.51. Following the completion of the transaction, the chief executive officer now owns 16,255 shares in the company, valued at approximately $2,028,136.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 4,062 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $167.09, for a total value of $678,719.58. Following the completion of the transaction, the chief executive officer now directly owns 16,254 shares of the company’s stock, valued at approximately $2,715,880.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,187 shares of company stock valued at $1,809,908. 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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