Whittier Trust Co. Purchases 1,906 Shares of McKesson Corp. (MCK)
Whittier Trust Co. boosted its position in McKesson Corp. (NYSE:MCK) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,737 shares of the company’s stock after buying an additional 1,906 shares during the period. Whittier Trust Co.’s holdings in McKesson Corp. were worth $15,630,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC increased its stake in McKesson Corp. by 0.4% in the second quarter. Gilman Hill Asset Management LLC now owns 1,657 shares of the company’s stock worth $309,000 after buying an additional 7 shares in the last quarter. Pitcairn Co. increased its stake in McKesson Corp. by 0.6% in the second quarter. Pitcairn Co. now owns 1,516 shares of the company’s stock worth $283,000 after buying an additional 9 shares in the last quarter. Bartlett & Co. LLC increased its stake in McKesson Corp. by 2.3% in the second quarter. Bartlett & Co. LLC now owns 1,753 shares of the company’s stock worth $327,000 after buying an additional 39 shares in the last quarter. Murphy Capital Management Inc. increased its stake in McKesson Corp. by 0.4% in the second quarter. Murphy Capital Management Inc. now owns 10,012 shares of the company’s stock worth $1,868,000 after buying an additional 41 shares in the last quarter. Finally, MSI Financial Services Inc increased its stake in McKesson Corp. by 1.0% in the second quarter. MSI Financial Services Inc now owns 4,271 shares of the company’s stock worth $797,000 after buying an additional 44 shares in the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
McKesson Corp. (NYSE:MCK) traded down 0.56% during midday trading on Thursday, hitting $164.75. The stock had a trading volume of 1,677,061 shares. McKesson Corp. has a 1-year low of $148.29 and a 1-year high of $202.20. The company has a market capitalization of $37.18 billion, a PE ratio of 17.11 and a beta of 0.93. The stock’s 50-day moving average is $176.82 and its 200-day moving average is $179.20.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.33 by $0.17. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The business earned $49.73 billion during the quarter, compared to analyst estimates of $50.32 billion. During the same quarter in the prior year, the business posted $3.14 EPS. McKesson Corp.’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts forecast that McKesson Corp. will post $13.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, August 30th. McKesson Corp.’s dividend payout ratio is presently 11.64%.
A number of research firms have issued reports on MCK. FBR & Co reissued a “buy” rating on shares of McKesson Corp. in a research report on Wednesday, June 22nd. Morgan Stanley lifted their price target on McKesson Corp. from $199.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Citigroup Inc. lifted their price target on McKesson Corp. from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Mizuho lifted their price target on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of McKesson Corp. in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. McKesson Corp. presently has an average rating of “Buy” and a consensus price target of $201.17.
In other news, Director Wayne A. Budd sold 2,309 shares of McKesson Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $179.70, for a total transaction of $414,927.30. Following the completion of the sale, the director now owns 723 shares of the company’s stock, valued at $129,923.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marie L/Ca Knowles sold 915 shares of McKesson Corp. 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 disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.
About McKesson Corp.
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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