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.

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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