Bessemer Group Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 38.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,191 shares of the company’s stock after purchasing an additional 330 shares during the period. Bessemer Group Inc.’s holdings in McKesson were worth $161,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of McKesson by 1.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 46,991 shares of the company’s stock worth $6,315,000 after purchasing an additional 472 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $336,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of McKesson by 9.0% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 7,243 shares of the company’s stock valued at $973,000 after buying an additional 600 shares during the period. Cascade Investment Advisors Inc. grew its stake in shares of McKesson by 1.7% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 7,280 shares of the company’s stock valued at $978,000 after buying an additional 120 shares during the period. Finally, Koshinski Asset Management Inc. boosted its position in shares of McKesson by 12.3% during the 2nd quarter. Koshinski Asset Management Inc. now owns 3,024 shares of the company’s stock worth $406,000 after purchasing an additional 331 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MCK opened at $141.27 on Friday. The company has a market cap of $26.38 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.44 and a beta of 1.13. McKesson Co. has a fifty-two week low of $106.11 and a fifty-two week high of $149.99. The firm’s 50-day simple moving average is $140.51 and its 200-day simple moving average is $128.45. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.16%. This is a boost from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is presently 11.50%.
In other news, CEO Brian Scott Tyler sold 1,488 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $125.49, for a total value of $186,729.12. Following the completion of the transaction, the chief executive officer now owns 12,192 shares of the company’s stock, valued at $1,529,974.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director M Christine Jacobs sold 1,296 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $146.65, for a total transaction of $190,058.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,704 shares of company stock valued at $625,131. 0.88% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on MCK shares. Credit Suisse Group started coverage on shares of McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $143.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of McKesson in a research report on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price target for the company. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a research report on Wednesday, July 31st. ValuEngine cut shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Finally, Wolfe Research lowered shares of McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $148.70.
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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