Ingalls & Snyder LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 44.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,439 shares of the company’s stock after purchasing an additional 7,500 shares during the period. Ingalls & Snyder LLC’s holdings in McKesson were worth $3,811,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in McKesson by 6.5% during the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock valued at $390,217,000 after buying an additional 154,967 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of McKesson by 17.2% during the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after purchasing an additional 360,676 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of McKesson by 0.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,785,700 shares of the company’s stock worth $275,455,000 after purchasing an additional 5,000 shares during the period. Nordea Investment Management AB raised its position in shares of McKesson by 0.7% during the 3rd quarter. Nordea Investment Management AB now owns 1,379,609 shares of the company’s stock worth $211,922,000 after purchasing an additional 9,281 shares during the period. Finally, Legal & General Group Plc raised its position in shares of McKesson by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,361,681 shares of the company’s stock worth $209,181,000 after purchasing an additional 37,547 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.
McKesson Co. (NYSE MCK) traded down $1.30 on Friday, reaching $148.93. The company had a trading volume of 2,229,275 shares, compared to its average volume of 1,957,645. McKesson Co. has a 12-month low of $133.82 and a 12-month high of $178.86. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. The firm has a market cap of $30,730.07, a PE ratio of 6.60, a P/E/G ratio of 1.35 and a beta of 1.23.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Wednesday, February 28th. McKesson’s payout ratio is currently 6.03%.
A number of analysts have recently weighed in on MCK shares. Credit Suisse Group reiterated a “sell” rating and set a $130.00 price target on shares of McKesson in a research report on Friday, February 2nd. Mizuho set a $168.00 price target on McKesson and gave the stock a “hold” rating in a research report on Tuesday, October 24th. ValuEngine upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research upgraded McKesson from a “hold” rating to a “buy” rating and set a $177.00 price target on the stock in a research report on Tuesday, December 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $173.00 price target (down from $178.00) on shares of McKesson in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. McKesson presently has an average rating of “Hold” and a consensus price target of $178.97.
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 transaction of $10,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.
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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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