Dupont Capital Management Corp Has $2.63 Million Position in McKesson Corporation (MCK)
Dupont Capital Management Corp decreased its position in shares of McKesson Corporation (NYSE:MCK) by 23.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,976 shares of the company’s stock after selling 4,800 shares during the period. Dupont Capital Management Corp’s holdings in McKesson Corporation were worth $2,629,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after buying an additional 192,254 shares during the period. BlackRock Inc. boosted its position in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the period. Ballentine Partners LLC purchased a new position in McKesson Corporation during the first quarter worth $191,000. Massachusetts Financial Services Co. MA boosted its position in McKesson Corporation by 3.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock worth $730,560,000 after buying an additional 180,107 shares during the period. Finally, Parnassus Investments CA boosted its position in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the period. Institutional investors own 86.58% of the company’s stock.
Shares of McKesson Corporation (NYSE:MCK) opened at 146.14 on Tuesday. The company has a market capitalization of $30.73 billion, a P/E ratio of 6.63 and a beta of 1.13. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $194.77. The stock has a 50 day moving average of $159.68 and a 200-day moving average of $152.38.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same quarter in the previous year, the business posted $3.50 earnings per share. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that McKesson Corporation will post $12.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.34 per share. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.93%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
A number of research analysts recently weighed in on MCK shares. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Wednesday, July 12th. Vetr upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research note on Thursday, May 25th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price on the stock in a research note on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a research note on Friday, May 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. McKesson Corporation presently has an average rating of “Hold” and an average target price of $171.21.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of McKesson Corporation stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the completion of the sale, the chairman now directly owns 19,309 shares in the company, valued at $3,162,041.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the sale, the senior vice president now owns 2,003 shares of the company’s stock, valued at $321,541.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by company insiders.
About McKesson Corporation
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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