McKesson Corporation (MCK) Shares Bought by BB&T Securities LLC
BB&T Securities LLC boosted its position in McKesson Corporation (NYSE:MCK) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,731 shares of the company’s stock after buying an additional 5,776 shares during the quarter. BB&T Securities LLC’s holdings in McKesson were worth $9,636,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MCK. BlackRock Inc. increased its holdings in McKesson by 8.0% in the second 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 during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of McKesson by 15,915.0% during the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,013,942 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of McKesson during the second quarter valued at approximately $164,688,000. AJO LP grew its holdings in shares of McKesson by 742.4% during the second quarter. AJO LP now owns 647,052 shares of the company’s stock valued at $106,466,000 after purchasing an additional 570,243 shares during the last quarter. Finally, Kiltearn Partners LLP grew its holdings in shares of McKesson by 59.5% during the second quarter. Kiltearn Partners LLP now owns 1,242,132 shares of the company’s stock valued at $204,380,000 after purchasing an additional 463,303 shares during the last quarter. 88.10% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently commented on the company. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Mizuho set a $168.00 target price on McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. Jefferies Group set a $165.00 target price on McKesson and gave the company a “hold” rating in a report on Tuesday, August 29th. Needham & Company LLC set a $179.00 target price on McKesson and gave the company a “buy” rating in a report on Monday, October 16th. Finally, Cowen raised McKesson from a “market perform” rating to an “outperform” rating and upped their target price for the company from $176.00 to $189.00 in a report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $174.27.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.94 earnings per share. research analysts anticipate that McKesson Corporation will post 12.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. McKesson’s dividend payout ratio is presently 6.45%.
In other McKesson news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 949,900 shares of company stock valued at $145,403,445. Insiders own 1.20% of the company’s stock.
McKesson Company 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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