McKesson Corporation (MCK) Shares Bought by YorkBridge Wealth Partners LLC
YorkBridge Wealth Partners LLC grew its position in shares of McKesson Corporation (NYSE:MCK) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,291 shares of the company’s stock after purchasing an additional 116 shares during the period. YorkBridge Wealth Partners LLC’s holdings in McKesson Corporation were worth $212,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of MCK. UBS Asset Management Americas Inc. grew its position in shares of McKesson Corporation by 31.5% during the first quarter. UBS Asset Management Americas Inc. now owns 788,317 shares of the company’s stock valued at $116,876,000 after purchasing an additional 189,035 shares in the last quarter. Teza Capital Management LLC purchased a new position in shares of McKesson Corporation during the first quarter valued at about $652,000. Morningstar Investment Services LLC grew its position in shares of McKesson Corporation by 33.0% during the first quarter. Morningstar Investment Services LLC now owns 206,275 shares of the company’s stock valued at $30,582,000 after purchasing an additional 51,198 shares in the last quarter. HGK Asset Management Inc. grew its position in shares of McKesson Corporation by 8.7% during the first quarter. HGK Asset Management Inc. now owns 106,273 shares of the company’s stock valued at $15,756,000 after purchasing an additional 8,492 shares in the last quarter. Finally, Montecito Bank & Trust grew its position in shares of McKesson Corporation by 13.5% during the first quarter. Montecito Bank & Trust now owns 2,120 shares of the company’s stock valued at $314,000 after purchasing an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 85.16% of the company’s stock.
A number of brokerages have recently weighed in on MCK. Royal Bank Of Canada began coverage on McKesson Corporation in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price objective for the company. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Morgan Stanley downgraded shares of McKesson Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $184.00 to $172.00 in a report on Thursday, September 14th. Needham & Company LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a report on Friday, September 8th. Finally, Jefferies Group LLC set a $165.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. McKesson Corporation has an average rating of “Hold” and an average target price of $171.53.
McKesson Corporation (NYSE:MCK) traded down 0.07% during mid-day trading on Friday, reaching $153.61. 1,440,111 shares of the company traded hands. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The stock has a 50 day moving average price of $151.41 and a 200-day moving average price of $153.02. The company has a market capitalization of $32.30 billion, a P/E ratio of 6.97 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same period in the prior year, the company posted $3.50 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts expect that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The firm also recently disclosed 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. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. 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 dividend payout ratio is currently 6.07%.
In related news, Chairman John H. Hammergren sold 225,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction 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 952,066 shares of company stock valued at $145,736,987 over the last three months. 1.20% of the stock is owned by company 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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