McKesson Corporation (MCK) Holdings Lifted by Earnest Partners LLC
Earnest Partners LLC raised its stake in shares of McKesson Corporation (NYSE:MCK) by 5.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,464 shares of the company’s stock after buying an additional 136 shares during the quarter. Earnest Partners LLC’s holdings in McKesson Corporation were worth $405,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in McKesson Corporation by 0.9% during the 1st quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock valued at $3,370,074,000 after buying an additional 192,254 shares in the last quarter. BlackRock Inc. grew its holdings in McKesson Corporation by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after buying an additional 1,131,024 shares in the last quarter. Vanguard Group Inc. grew its holdings in McKesson Corporation by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock valued at $2,318,457,000 after buying an additional 62,004 shares in the last quarter. Ballentine Partners LLC purchased a new position in McKesson Corporation during the 1st quarter valued at about $191,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in McKesson Corporation by 3.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock valued at $730,560,000 after buying an additional 180,107 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.
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In other McKesson Corporation news, CEO John H. Hammergren sold 99,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares in the company, valued at approximately $25,391,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $154.81, for a total value of $15,481,000.00. Following the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,543,650. The disclosure for this sale can be found here. Insiders have sold a total of 952,066 shares of company stock valued at $145,736,987 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
Shares of McKesson Corporation (NYSE MCK) opened at 149.25 on Wednesday. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The company has a 50-day moving average price of $151.72 and a 200-day moving average price of $153.61. The company has a market cap of $31.38 billion, a P/E ratio of 6.77 and a beta of 1.17.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results 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). The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s quarterly 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. On average, equities analysts predict that McKesson Corporation will post $12.08 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.91%. 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 currently 6.07%.
A number of research analysts have weighed in on MCK shares. BidaskClub lowered McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Wednesday, July 12th. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $175.00 to $178.00 in a report on Tuesday, September 19th. TheStreet lowered McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Finally, Needham & Company LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $172.45.
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.
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