McKesson Corp. (MCK) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. increased its position in McKesson Corp. (NYSE:MCK) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,323 shares of the company’s stock after buying an additional 7,172 shares during the period. Macquarie Group Ltd.’s holdings in McKesson Corp. were worth $12,566,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Carnick & Kubik Group LLC bought a new position in shares of McKesson Corp. during the second quarter worth approximately $453,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in McKesson Corp. during the second quarter valued at approximately $1,696,000. Kentucky Retirement Systems acquired a new position in McKesson Corp. during the second quarter valued at approximately $3,572,000. Northwestern Mutual Investment Management Company LLC raised its position in McKesson Corp. by 2,162.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 197,586 shares of the company’s stock valued at $36,879,000 after buying an additional 188,854 shares in the last quarter. Finally, Mason Street Advisors LLC acquired a new position in McKesson Corp. during the second quarter valued at approximately $5,657,000. 86.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corp. (NYSE:MCK) traded up 1.90% on Wednesday, reaching $143.93. 1,286,035 shares of the company were exchanged. McKesson Corp. has a 52 week low of $114.53 and a 52 week high of $202.20. The company’s 50-day moving average is $147.23 and its 200-day moving average is $174.41. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 17.25 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share 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 29.85%. The firm had revenue of $49.96 billion for the quarter, compared to the consensus estimate of $24.16 billion. During the same quarter last year, the firm earned $3.31 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, equities analysts expect that McKesson Corp. will post $12.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Tuesday, November 29th. McKesson Corp.’s dividend payout ratio (DPR) is 13.45%.
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Several equities analysts recently commented on the stock. Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Robert W. Baird lowered shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $200.00 to $164.00 in a report on Friday, October 28th. Standpoint Research lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating in a report on Friday, November 11th. Mizuho increased their target price on shares of McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Argus reaffirmed a “hold” rating on shares of McKesson Corp. in a report on Monday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $189.50.
In other McKesson Corp. news, SVP Erin M. Lampert sold 1,739 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $165.94, for a total transaction of $288,569.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 921 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $123.99, for a total transaction of $114,194.79. Following the transaction, the senior vice president now owns 1,765 shares in the company, valued at approximately $218,842.35. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
About McKesson Corp.
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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