First Interstate Bank trimmed its holdings in McKesson Co. (NYSE:MCK) by 2.0% in the fourth quarter, HoldingsChannel reports. The firm owned 62,172 shares of the company’s stock after selling 1,269 shares during the quarter. McKesson comprises about 2.1% of First Interstate Bank’s investment portfolio, making the stock its 13th largest holding. First Interstate Bank’s holdings in McKesson were worth $9,696,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Boston Partners boosted its holdings in shares of McKesson by 61.5% in the fourth quarter. Boston Partners now owns 1,815,132 shares of the company’s stock valued at $283,070,000 after acquiring an additional 691,476 shares during the period. Baupost Group LLC MA acquired a new stake in shares of McKesson in the third quarter valued at approximately $76,805,000. Schroder Investment Management Group boosted its holdings in shares of McKesson by 80.1% in the fourth quarter. Schroder Investment Management Group now owns 822,506 shares of the company’s stock valued at $128,270,000 after acquiring an additional 365,699 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of McKesson by 17.2% in the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after acquiring an additional 360,676 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of McKesson by 51.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock valued at $156,273,000 after acquiring an additional 345,865 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on MCK shares. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $173.00 price target (down from $178.00) on shares of McKesson in a report on Wednesday, November 1st. Credit Suisse Group reaffirmed an “underperform” rating and set a $130.00 price target (down from $155.00) on shares of McKesson in a report on Thursday, November 9th. Deutsche Bank started coverage on McKesson in a report on Monday, December 4th. They set a “buy” rating and a $175.00 price target for the company. Finally, Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $177.86.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, February 1st. The company reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.49. The firm had revenue of $53.62 billion during the quarter, compared to analysts’ expectations of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. McKesson’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 earnings per share. equities analysts expect that McKesson Co. will post 12.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s payout ratio is 6.03%.
In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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