McKesson Corporation (MCK) Shares Bought by Accident Compensation Corp
Accident Compensation Corp boosted its holdings in McKesson Corporation (NYSE:MCK) by 43.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,600 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Accident Compensation Corp’s holdings in McKesson Corporation were worth $757,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Profund Advisors LLC boosted its position in McKesson Corporation by 20.3% in the second quarter. Profund Advisors LLC now owns 7,013 shares of the company’s stock worth $1,154,000 after purchasing an additional 1,182 shares during the last quarter. Stevens Capital Management LP purchased a new position in McKesson Corporation in the second quarter worth $9,204,000. BT Investment Management Ltd purchased a new position in McKesson Corporation in the second quarter worth $2,001,000. BlueMountain Capital Management LLC boosted its position in McKesson Corporation by 2,688.9% in the second quarter. BlueMountain Capital Management LLC now owns 6,024 shares of the company’s stock worth $991,000 after purchasing an additional 5,808 shares during the last quarter. Finally, Amalgamated Bank boosted its position in McKesson Corporation by 45.3% in the second quarter. Amalgamated Bank now owns 24,047 shares of the company’s stock worth $3,957,000 after purchasing an additional 7,499 shares during the last quarter. 85.16% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corporation (MCK) traded down 0.09% during trading on Monday, hitting $149.74. The stock had a trading volume of 199,820 shares. The company has a market cap of $31.48 billion, a PE ratio of 6.79 and a beta of 1.16. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $169.29. The stock has a 50 day moving average of $152.20 and a 200 day moving average of $153.01.
McKesson Corporation (NYSE:MCK) last issued its earnings results 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 the consensus estimate of $51.22 billion. During the same period last year, the firm posted $3.50 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that McKesson Corporation will post $12.07 EPS 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 issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s payout ratio is 6.07%.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders sold 3,066 shares of company stock worth $473,627 over the last ninety days. Insiders own 1.20% of the company’s stock.
A number of research analysts have recently commented on MCK shares. Vetr cut McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 price target on the stock. in a research report on Monday, May 22nd. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a research report on Tuesday, May 23rd. Zacks Investment Research raised McKesson Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Morgan Stanley upped their price target on McKesson Corporation from $165.00 to $179.00 and gave the company an “overweight” rating in a research report on Thursday, May 25th. Finally, TheStreet raised McKesson Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $170.91.
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McKesson Corporation 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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