First Trust Advisors LP lifted its stake in shares of McKesson Co. (NYSE:MCK) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,887 shares of the company’s stock after buying an additional 8,094 shares during the quarter. First Trust Advisors LP’s holdings in McKesson were worth $39,282,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of McKesson by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after buying an additional 154,967 shares during the last quarter. Pzena Investment Management LLC lifted 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 buying an additional 360,676 shares during the last quarter. Boston Partners lifted its position in shares of McKesson by 61.5% during the 4th quarter. Boston Partners now owns 1,815,132 shares of the company’s stock worth $283,070,000 after buying an additional 691,476 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted 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 buying an additional 5,000 shares during the last quarter. Finally, Nordea Investment Management AB lifted 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 buying an additional 9,281 shares during the last quarter. Institutional investors and hedge funds own 85.47% of the company’s stock.
McKesson Co. (NYSE MCK) opened at $150.50 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.61. The stock has a market cap of $31,054.06, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. McKesson Co. has a 12 month low of $133.82 and a 12 month high of $178.86.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 annualized dividend and a yield of 0.90%. McKesson’s dividend payout ratio is currently 6.03%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Thursday. Mizuho set a $168.00 target price on shares of McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. ValuEngine cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird reaffirmed a “buy” rating and issued a $200.00 target price on shares of McKesson in a report on Wednesday, January 17th. Finally, Jefferies Group raised shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $177.50.
In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://stocknewstimes.com/2018/02/19/mckesson-co-mck-stake-increased-by-first-trust-advisors-lp.html.
McKesson Company Profile
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.
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.