McKesson Corporation (MCK) Shares Sold by Sii Investments Inc. WI
Sii Investments Inc. WI trimmed its position in McKesson Corporation (NYSE:MCK) by 13.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the company’s stock after selling 226 shares during the period. Sii Investments Inc. WI’s holdings in McKesson Corporation were worth $245,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in McKesson Corporation in the first quarter worth approximately $100,000. Captrust Financial Advisors acquired a new stake in McKesson Corporation in the second quarter worth approximately $107,000. Archford Capital Strategies LLC lifted its position in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after purchasing an additional 268 shares during the period. WFG Advisors LP lifted its position in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after purchasing an additional 452 shares during the period. Finally, Orrstown Financial Services Inc. lifted its position in McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) opened at 150.62 on Monday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The firm has a market capitalization of $31.67 billion, a P/E ratio of 6.83 and a beta of 1.17. The firm’s 50-day moving average is $151.56 and its 200 day moving average is $153.46.
McKesson Corporation (NYSE:MCK) last announced 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). 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 previous year, the business posted $3.50 earnings per share. McKesson Corporation’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. This is a boost 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 (DPR) is currently 6.07%.
A number of equities research analysts have weighed in on MCK shares. TheStreet downgraded McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Morgan Stanley downgraded McKesson Corporation from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $184.00 to $172.00 in a research report on Thursday, September 14th. Needham & Company LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a research report on Friday, September 8th. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price for the company in a research report on Monday, June 12th. Finally, Leerink Swann upped their target price on McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $171.53.
In other news, Chairman John H. Hammergren sold 225,000 shares of McKesson Corporation stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 952,066 shares of company stock worth $145,736,987. Insiders own 1.20% of the company’s stock.
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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