Boys Arnold & Co. Inc. maintained its stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,622 shares of the company’s stock at the end of the second quarter. Boys Arnold & Co. Inc.’s holdings in McKesson Corporation were worth $596,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its stake in McKesson Corporation by 107.4% in the first quarter. State of Alaska Department of Revenue now owns 2,649 shares of the company’s stock worth $392,000 after buying an additional 1,372 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in McKesson Corporation by 32.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 13,715 shares of the company’s stock worth $2,033,000 after buying an additional 3,398 shares during the period. First Manhattan Co. raised its stake in McKesson Corporation by 6.4% in the first quarter. First Manhattan Co. now owns 1,465 shares of the company’s stock worth $244,000 after buying an additional 88 shares during the period. ProShare Advisors LLC raised its stake in McKesson Corporation by 1.1% in the first quarter. ProShare Advisors LLC now owns 34,853 shares of the company’s stock worth $5,167,000 after buying an additional 393 shares during the period. Finally, Shell Asset Management Co. raised its stake in McKesson Corporation by 4.6% in the first quarter. Shell Asset Management Co. now owns 27,283 shares of the company’s stock worth $4,045,000 after buying an additional 1,188 shares during the period. 85.26% of the stock is owned by institutional investors.

McKesson Corporation (NYSE:MCK) opened at 147.21 on Wednesday. The firm has a market cap of $30.95 billion, a P/E ratio of 6.68 and a beta of 1.13. The firm’s 50-day moving average price is $157.94 and its 200 day moving average price is $152.42. McKesson Corporation has a one year low of $114.53 and a one year high of $186.28.

McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the prior year, the business earned $3.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Corporation will post $12.07 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.

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MCK has been the subject of a number of research analyst reports. BidaskClub lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Wednesday, July 12th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a research report on Thursday, May 25th. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a research report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 price target on shares of McKesson Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $171.91.

In other news, Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of the transaction, the chairman now owns 19,309 shares in the company, valued at approximately $3,162,041.84. The disclosure for this sale can be found here. Insiders sold 40,785 shares of company stock worth $6,657,790 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

McKesson Corporation 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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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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