Ontario Teachers Pension Plan Board Reduces Stake in McKesson Corporation (MCK)
Ontario Teachers Pension Plan Board cut its stake in McKesson Corporation (NYSE:MCK) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,210 shares of the company’s stock after selling 417 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in McKesson Corporation were worth $2,832,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new stake in McKesson Corporation during the first quarter valued at $100,000. Captrust Financial Advisors purchased a new position in McKesson Corporation in the second quarter valued at about $107,000. Archford Capital Strategies LLC grew its stake in 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. WFG Advisors LP grew its stake in 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. Finally, Orrstown Financial Services Inc. grew its stake in 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. 85.19% of the stock is currently owned by institutional investors and hedge funds.
MCK has been the topic of several research reports. 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 research report on Monday, June 19th. Royal Bank Of Canada began coverage on McKesson Corporation in a report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price target for the company. UBS AG reiterated a “neutral” rating and set a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research note on Thursday, July 27th. Finally, Leerink Swann boosted their price target on McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $171.53.
McKesson Corporation (MCK) opened at 153.61 on Monday. The firm has a market cap of $32.30 billion, a PE ratio of 6.97 and a beta of 1.17. The company’s 50 day moving average price is $151.41 and its 200 day moving average price is $153.02. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 EPS. Analysts predict 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. Stockholders of record on Friday, September 1st will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. McKesson Corporation’s payout ratio is currently 6.07%.
In related news, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Insiders have sold a total of 952,066 shares of company stock worth $145,736,987 over the last 90 days. 1.20% of the stock is 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.
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK).
Receive News & Stock Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related stocks with our FREE daily email newsletter.