McKesson Corporation (MCK) Shares Sold by New Mountain Vantage Advisers L.L.C.
New Mountain Vantage Advisers L.L.C. lessened its position in shares of McKesson Corporation (NYSE:MCK) by 38.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,560 shares of the company’s stock after selling 64,747 shares during the period. New Mountain Vantage Advisers L.L.C.’s holdings in McKesson Corporation were worth $16,875,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new stake in shares of McKesson Corporation during the first quarter worth approximately $100,000. Captrust Financial Advisors bought a new stake in shares of McKesson Corporation during the second quarter worth approximately $107,000. Archford Capital Strategies LLC boosted its holdings in shares of McKesson Corporation by 52.8% during the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after acquiring an additional 268 shares during the period. WFG Advisors LP boosted its holdings in shares of McKesson Corporation by 123.5% during the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after acquiring an additional 452 shares during the period. Finally, Orrstown Financial Services Inc. boosted its holdings in shares of McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after acquiring an additional 43 shares during the period. Institutional investors own 85.19% of the company’s stock.
Shares of McKesson Corporation (NYSE:MCK) traded up 0.59% on Friday, hitting $154.62. 478,767 shares of the stock traded hands. The firm has a market cap of $32.51 billion, a P/E ratio of 7.02 and a beta of 1.17. 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 $151.43 and a 200 day moving average price of $153.43.
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 analysts’ consensus estimates of $2.81 by ($0.35). The company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.50 earnings per share. Equities research analysts predict that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
A number of brokerages have recently issued reports on MCK. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective for the company in a report on Monday, June 19th. Royal Bank Of Canada assumed coverage on McKesson Corporation in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price target for the company. UBS AG reiterated a “neutral” rating and issued a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Jefferies Group LLC upgraded 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 given a buy rating to the stock. McKesson Corporation currently has an average rating of “Hold” and a consensus target price of $171.53.
In related news, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 952,066 shares of company stock worth $145,736,987. 1.20% of the stock is owned by corporate insiders.
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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