McKesson Corporation (MCK) Shares Sold by Swiss National Bank
Swiss National Bank lowered its position in shares of McKesson Corporation (NYSE:MCK) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 774,191 shares of the company’s stock after selling 26,800 shares during the period. Swiss National Bank owned approximately 0.37% of McKesson Corporation worth $127,385,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of 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 in the last quarter. BlackRock Inc. raised its position in shares of 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 in the last quarter. Ballentine Partners LLC bought a new position in shares of McKesson Corporation during the first quarter worth approximately $191,000. Massachusetts Financial Services Co. MA raised its position in shares of 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 in the last quarter. Finally, Parnassus Investments CA raised its position in shares of 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 in the last quarter. 85.26% of the stock is owned by institutional investors and hedge funds.
Shares of McKesson Corporation (NYSE MCK) opened at 149.41 on Friday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $186.28. The company has a market capitalization of $31.41 billion, a PE ratio of 6.78 and a beta of 1.16. The firm’s 50-day moving average is $155.54 and its 200 day moving average is $152.71.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.81 by $0.35. The firm had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.50 earnings per share. On average, analysts anticipate that McKesson Corporation will post $12.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. McKesson Corporation’s payout ratio is presently 6.07%.
A number of research analysts have recently commented on MCK shares. 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 objective 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 objective 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 objective for the company in a research report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 price objective on shares of McKesson Corporation and gave the company 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. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $171.91.
In other news, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.
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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