Culbertson A N & Co. Inc. decreased its stake in shares of McKesson Co. (NYSE:MCK) by 4.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,824 shares of the company’s stock after selling 1,568 shares during the period. Culbertson A N & Co. Inc.’s holdings in McKesson were worth $3,608,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its holdings in shares of McKesson by 161.2% during the 4th quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in McKesson by 165.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock valued at $26,000 after buying an additional 147 shares during the last quarter. Dubuque Bank & Trust Co. grew its holdings in McKesson by 106.7% in the 1st quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock valued at $40,000 after buying an additional 176 shares during the last quarter. Old North State Trust LLC grew its holdings in McKesson by 53.3% in the 4th quarter. Old North State Trust LLC now owns 391 shares of the company’s stock valued at $43,000 after buying an additional 136 shares during the last quarter. Finally, IMS Capital Management acquired a new stake in McKesson in the 3rd quarter valued at approximately $57,000. 86.60% of the stock is currently owned by institutional investors and hedge funds.
MCK has been the topic of a number of research analyst reports. Zacks Investment Research raised McKesson from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Barclays reiterated a “hold” rating and issued a $124.00 price objective on shares of McKesson in a research report on Sunday, January 6th. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 5th. Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a research report on Friday, January 25th. Finally, UBS Group started coverage on McKesson in a research report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. McKesson currently has an average rating of “Hold” and an average target price of $134.90.
McKesson (NYSE:MCK) last released its earnings results on Thursday, January 31st. The company reported $3.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.22. The company had revenue of $56.21 billion during the quarter, compared to analysts’ expectations of $55.27 billion. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. During the same period last year, the firm earned $3.41 EPS. Equities analysts anticipate that McKesson Co. will post 13.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $1.56 annualized dividend and a dividend yield of 1.38%. McKesson’s dividend payout ratio (DPR) is currently 12.36%.
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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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