Norinchukin Bank The Buys 12,428 Shares of McKesson Corporation (MCK)
Norinchukin Bank The raised its stake in shares of McKesson Corporation (NYSE:MCK) by 90.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 26,208 shares of the company’s stock after purchasing an additional 12,428 shares during the period. Norinchukin Bank The’s holdings in McKesson Corporation were worth $4,312,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Teachers Advisors LLC grew its holdings in McKesson Corporation by 25.8% during the second quarter. Teachers Advisors LLC now owns 374,732 shares of the company’s stock valued at $61,658,000 after purchasing an additional 76,827 shares during the period. Matthew Goff Investment Advisor LLC grew its holdings in McKesson Corporation by 26.1% during the second quarter. Matthew Goff Investment Advisor LLC now owns 5,914 shares of the company’s stock valued at $973,000 after purchasing an additional 1,225 shares during the period. SVA Plumb Wealth Management LLC grew its holdings in McKesson Corporation by 6.1% during the second quarter. SVA Plumb Wealth Management LLC now owns 19,532 shares of the company’s stock valued at $3,214,000 after purchasing an additional 1,122 shares during the period. Raymond James Trust N.A. grew its holdings in McKesson Corporation by 25.0% during the second quarter. Raymond James Trust N.A. now owns 10,390 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,081 shares during the period. Finally, Stephens Inc. AR grew its holdings in McKesson Corporation by 1.0% during the second quarter. Stephens Inc. AR now owns 25,138 shares of the company’s stock valued at $4,136,000 after purchasing an additional 259 shares during the period. 85.28% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction dated 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. Over the last quarter, insiders sold 3,066 shares of company stock worth $473,627. 1.20% of the stock is currently owned by insiders.
MCK has been the subject of several recent research reports. Jefferies Group LLC initiated coverage on McKesson Corporation in a report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price target for the company. UBS AG boosted their price target on McKesson Corporation from $145.00 to $156.00 and gave the company a “neutral” rating in a report on Friday, May 19th. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the company a “hold” rating in a report on Friday, May 19th. Vetr lowered McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 price target for the company. in a report on Monday, May 22nd. Finally, J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Two equities research 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. The stock has an average rating of “Hold” and an average target price of $172.31.
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McKesson Corporation (NYSE:MCK) traded up 0.29% during midday trading on Wednesday, hitting $156.82. The company had a trading volume of 405,852 shares. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $179.45. The firm has a market capitalization of $32.97 billion, a P/E ratio of 7.11 and a beta of 1.16. The company has a 50 day moving average price of $153.56 and a 200 day moving average price of $152.96.
McKesson Corporation (NYSE:MCK) last posted 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 during the quarter, compared to analyst estimates of $51.22 billion. During the same quarter in the previous year, the firm posted $3.50 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current fiscal 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 issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.87%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s payout ratio is presently 6.07%.
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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