McKesson Corporation (MCK) Shares Sold by Private Advisor Group LLC
Private Advisor Group LLC lowered its holdings in McKesson Corporation (NYSE:MCK) by 7.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,753 shares of the company’s stock after selling 390 shares during the quarter. Private Advisor Group LLC’s holdings in McKesson Corporation were worth $783,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Tredje AP fonden grew its holdings in McKesson Corporation by 0.9% in the 2nd quarter. Tredje AP fonden now owns 23,598 shares of the company’s stock valued at $3,889,000 after buying an additional 220 shares during the last quarter. Gareth Morgan Investments Limited Partnership acquired a new stake in McKesson Corporation in the 2nd quarter valued at approximately $1,826,000. Sheaff Brock Investment Advisors LLC grew its holdings in McKesson Corporation by 21.1% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 2,013 shares of the company’s stock valued at $331,000 after buying an additional 351 shares during the last quarter. LSV Asset Management grew its holdings in McKesson Corporation by 32.7% in the 2nd quarter. LSV Asset Management now owns 581,820 shares of the company’s stock valued at $95,732,000 after buying an additional 143,300 shares during the last quarter. Finally, Manchester Capital Management LLC grew its holdings in McKesson Corporation by 23.0% in the 2nd quarter. Manchester Capital Management LLC now owns 1,288 shares of the company’s stock valued at $212,000 after buying an additional 241 shares during the last quarter. 85.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE:MCK) opened at 156.36 on Wednesday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $179.45. The company has a 50-day moving average price of $153.56 and a 200 day moving average price of $152.96. The firm has a market cap of $32.88 billion, a price-to-earnings ratio of 7.09 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). The company had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.50 EPS. Analysts expect that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.87%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio is currently 6.07%.
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MCK has been the topic of a number of research analyst reports. TheStreet lowered McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price on the stock in a report on Monday, June 12th. Leerink Swann set a $140.00 target price on McKesson Corporation and gave the company a “hold” rating in a report on Friday, May 19th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price on the stock in a report on Tuesday, May 23rd. Finally, Jefferies Group LLC initiated coverage on McKesson Corporation in a report on Wednesday, May 17th. They issued a “hold” rating and a $153.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. McKesson Corporation has an average rating of “Hold” and a consensus price target of $172.31.
In related news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director M Christine Jacobs sold 1,083 shares of the 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 disclosure for this sale can be found here. Insiders have sold 3,066 shares of company stock worth $473,627 in the last three months. 1.20% of the stock is currently 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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