McKesson Corporation (MCK) Shares Bought by Commonwealth Bank of Australia
Commonwealth Bank of Australia grew its stake in McKesson Corporation (NYSE:MCK) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 59,285 shares of the company’s stock after acquiring an additional 3,353 shares during the period. Commonwealth Bank of Australia’s holdings in McKesson Corporation were worth $9,753,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in shares of McKesson Corporation in the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. grew its holdings in shares of McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in shares of McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares in the last quarter. Tompkins Financial Corp grew its holdings in shares of McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after purchasing an additional 18 shares in the last quarter. Finally, WFG Advisors LP grew its holdings in shares of McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after purchasing an additional 452 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.
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McKesson Corporation (NYSE:MCK) opened at 156.94 on Friday. McKesson Corporation has a one year low of $114.53 and a one year high of $181.53. The stock has a 50 day moving average of $153.75 and a 200 day moving average of $152.84. The firm has a market cap of $33.00 billion, a PE ratio of 7.12 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same period in the previous year, the business posted $3.50 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts forecast that McKesson Corporation will post $12.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.87%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Insiders have sold 3,066 shares of company stock valued at $473,627 in the last three months. Corporate insiders own 1.20% of the company’s stock.
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 report 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 price objective for the company in a report on Wednesday, July 12th. Vetr upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price objective for the company in a report 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 price objective for the company in a 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 report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $172.31.
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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