Butensky & Cohen Financial Security Inc. Takes Position in McKesson Corporation (MCK)
Butensky & Cohen Financial Security Inc. acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,738 shares of the company’s stock, valued at approximately $1,035,000.
Several other institutional investors have also recently added to or reduced their stakes in MCK. American Beacon Advisors Inc. purchased a new stake in shares of McKesson Corporation during the 1st quarter worth $100,000. Captrust Financial Advisors purchased a new stake in shares of McKesson Corporation during the 2nd quarter worth $107,000. Archford Capital Strategies LLC lifted its position in shares of McKesson Corporation by 52.8% during the 1st 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 last quarter. WFG Advisors LP lifted its position in shares of McKesson Corporation by 123.5% during the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after purchasing an additional 452 shares during the last quarter. Finally, Orrstown Financial Services Inc. lifted its position in shares of McKesson Corporation by 6.0% during the 2nd 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 last quarter. 85.16% of the stock is owned by institutional investors and hedge funds.
McKesson Corporation (MCK) traded down 0.94% on Monday, reaching $149.36. 417,013 shares of the company’s stock were exchanged. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $169.29. The stock’s 50 day moving average price is $151.90 and its 200 day moving average price is $153.51. The firm has a market capitalization of $31.40 billion, a price-to-earnings ratio of 6.78 and a beta of 1.17.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the previous year, the business posted $3.50 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that McKesson Corporation will post $12.06 earnings per share for the current year.
The firm 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 is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
Several equities research analysts have recently issued reports on the stock. UBS AG reaffirmed a “neutral” rating and set a $166.00 price objective (up from $156.00) on shares of McKesson Corporation in a research 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 price objective for the company. in a research report on Monday, July 17th. Leerink Swann lifted their price objective on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $172.45.
In other news, CEO John H. Hammergren sold 99,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the transaction, the chief executive officer now directly owns 165,000 shares in the company, valued at approximately $25,391,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated 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 90 days, insiders 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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