Todays Report: The RDL Financial Inc. Sold shares of McKesson Corp. (MCK)

The RDL Financial Inc. Sold shares of McKesson Corp. (MCK)

RDL Financial Inc. cut its stake in shares of McKesson Corp. (NYSE:MCK) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 16,208 shares of the company’s stock after selling 447 shares during the period. McKesson Corp. comprises about 2.2% of RDL Financial Inc.’s investment portfolio, making the stock its 11th largest position. RDL Financial Inc.’s holdings in McKesson Corp. were worth $3,025,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Hanlon Investment Management Inc. bought a new position in shares of McKesson Corp. during the second quarter valued at about $4,987,000. Pinnacle Financial Partners Inc. bought a new position in shares of McKesson Corp. during the second quarter valued at about $219,000. Carnegie Capital Asset Management LLC boosted its position in shares of McKesson Corp. by 10.0% in the second quarter. Carnegie Capital Asset Management LLC now owns 45,301 shares of the company’s stock valued at $8,919,000 after buying an additional 4,132 shares during the period. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of McKesson Corp. by 0.9% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 364,594 shares of the company’s stock valued at $68,051,000 after buying an additional 3,106 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of McKesson Corp. by 2.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 34,137 shares of the company’s stock valued at $6,372,000 after buying an additional 714 shares during the period. 84.75% of the stock is owned by institutional investors and hedge funds.

McKesson Corp. (NYSE:MCK) traded down 22.67% on Friday, reaching $124.11. The company had a trading volume of 28,158,084 shares. McKesson Corp. has a 52-week low of $114.53 and a 52-week high of $202.20. The stock has a market capitalization of $28.05 billion, a PE ratio of 14.88 and a beta of 0.93. The stock has a 50 day moving average price of $164.07 and a 200 day moving average price of $179.06.

McKesson Corp. (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.05 by $0.11. McKesson Corp. had a net margin of 0.99% and a return on equity of 30.23%. The company had revenue of $49.96 billion for the quarter, compared to analyst estimates of $24.16 billion. During the same quarter in the previous year, the business posted $3.31 earnings per share. McKesson Corp.’s revenue was up 2.5% on a year-over-year basis. Analysts expect that McKesson Corp. will post $13.59 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 1st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.90%. McKesson Corp.’s payout ratio is 13.45%.

Several equities analysts have recently issued reports on the company. Standpoint Research raised McKesson Corp. from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank AG cut McKesson Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $196.00 to $153.00 in a report on Friday. Leerink Swann lowered McKesson Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday. Robert W. Baird lowered McKesson Corp. from an “outperform” rating to a “neutral” rating and cut their price target for the company from $200.00 to $164.00 in a research note on Friday. Finally, Zacks Investment Research lowered McKesson Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $195.50.

In other news, Director Marie L/Ca Knowles sold 915 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $192.73, for a total transaction of $176,347.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne A. Budd sold 2,309 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $179.70, for a total transaction of $414,927.30. Following the transaction, the director now directly owns 723 shares of the company’s stock, valued at $129,923.10. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.

McKesson Corp. Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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