Cypress Capital Management LLC Has $364,000 Stake in McKesson Co. (MCK)
Cypress Capital Management LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,111 shares of the company’s stock after selling 255 shares during the period. Cypress Capital Management LLC’s holdings in McKesson were worth $364,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth $215,791,000. Standard Life Aberdeen plc boosted its holdings in McKesson by 16.7% in the fourth quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock worth $32,039,000 after purchasing an additional 41,289 shares during the period. Northern Trust Corp boosted its holdings in McKesson by 1.3% in the fourth quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock worth $261,783,000 after purchasing an additional 30,134 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in McKesson by 7.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock worth $316,000 after purchasing an additional 200 shares during the period. Finally, BlackRock Inc. boosted its holdings in McKesson by 2.3% in the fourth quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock worth $1,742,522,000 after purchasing an additional 358,982 shares during the period. Institutional investors own 86.35% of the company’s stock.
A number of research firms have commented on MCK. Zacks Investment Research downgraded shares of McKesson from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. Barclays reaffirmed a “hold” rating and issued a $130.00 price objective on shares of McKesson in a report on Friday, February 1st. Deutsche Bank raised shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a report on Friday, January 25th. Finally, UBS Group began coverage on shares of McKesson in a report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. McKesson presently has an average rating of “Hold” and a consensus price target of $134.90.
Shares of MCK traded down $2.14 during midday trading on Wednesday, hitting $123.47. 8,475 shares of the stock traded hands, compared to its average volume of 1,325,710. McKesson Co. has a 1-year low of $106.11 and a 1-year high of $151.86. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.58 and a current ratio of 1.02.
McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.03. The company had revenue of $52.43 billion during the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a net margin of 0.02% and a return on equity of 29.02%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. Analysts predict that McKesson Co. will post 14.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.50%.
TRADEMARK VIOLATION WARNING: This report was first published by Marea Informative and is owned by of Marea Informative. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.mareainformativa.com/news/2019/05/15/cypress-capital-management-llc-has-364000-stake-in-mckesson-co-mck.html.
McKesson Company Profile
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.
Recommended Story: Why is a lock-up period needed for an IPO?
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.