McKesson Corporation (MCK) Position Lifted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 10.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 671,455 shares of the company’s stock after acquiring an additional 62,715 shares during the period. Dimensional Fund Advisors LP owned approximately 0.32% of McKesson Corporation worth $110,480,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in MCK. UBS Asset Management Americas Inc. boosted its position in shares of McKesson Corporation by 31.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 788,317 shares of the company’s stock worth $116,876,000 after purchasing an additional 189,035 shares in the last quarter. Pax World Management LLC grew its stake in shares of McKesson Corporation by 6.4% during the 1st quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock worth $246,000 after purchasing an additional 100 shares during the period. Peddock Capital Advisors LLC grew its stake in shares of McKesson Corporation by 7.0% during the 1st quarter. Peddock Capital Advisors LLC now owns 9,876 shares of the company’s stock worth $1,464,000 after purchasing an additional 644 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of McKesson Corporation by 21.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,730 shares of the company’s stock worth $2,332,000 after purchasing an additional 2,770 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of McKesson Corporation by 288.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after purchasing an additional 1,301,803 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total value of $176,041.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00. 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 insiders.
A number of analysts recently commented on the stock. UBS AG reissued a “neutral” rating and set a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a report on Monday, July 17th. Leerink Swann lifted their price target on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $171.53.
Shares of McKesson Corporation (NYSE MCK) opened at 155.26 on Tuesday. The company’s 50-day moving average is $150.99 and its 200-day moving average is $153.38. The firm has a market cap of $32.64 billion, a price-to-earnings ratio of 7.04 and a beta of 1.17. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $169.29.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $3.50 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is 6.07%.
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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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