Janney Montgomery Scott LLC Has $14.38 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Janney Montgomery Scott LLC grew its holdings in McKesson Co. (NYSE:MCKFree Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,072 shares of the company’s stock after buying an additional 1,356 shares during the quarter. Janney Montgomery Scott LLC’s holdings in McKesson were worth $14,381,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MCK. BlackRock Inc. boosted its stake in McKesson by 1.1% in the second quarter. BlackRock Inc. now owns 11,514,039 shares of the company’s stock worth $4,920,064,000 after purchasing an additional 122,156 shares in the last quarter. State Street Corp lifted its holdings in McKesson by 3.0% in the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock valued at $2,784,399,000 after buying an additional 187,371 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after acquiring an additional 708,438 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of McKesson by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,486,792 shares of the company’s stock worth $1,059,447,000 after purchasing an additional 22,726 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of McKesson by 11.0% during the fourth quarter. Morgan Stanley now owns 2,152,581 shares of the company’s stock worth $807,477,000 after purchasing an additional 213,343 shares during the period. 82.69% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of NYSE MCK opened at $494.23 on Friday. The business has a 50-day moving average of $474.37 and a 200-day moving average of $450.62. The stock has a market capitalization of $65.76 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.81 and a beta of 0.44. McKesson Co. has a fifty-two week low of $331.75 and a fifty-two week high of $519.75.

McKesson (NYSE:MCKGet Free Report) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 275.97%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $6.90 earnings per share. On average, sell-side analysts expect that McKesson Co. will post 27.27 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company started coverage on McKesson in a report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price on the stock. Citigroup lifted their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley increased their target price on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $507.31.

Check Out Our Latest Stock Analysis on MCK

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

About McKesson

(Free Report)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.

Further Reading

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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