The Manufacturers Life Insurance Company decreased its holdings in McKesson Corporation (NYSE:MCK) by 34.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 333,171 shares of the company’s stock after selling 172,944 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of McKesson Corporation worth $54,820,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Family Firm Inc. grew its position in McKesson Corporation by 0.3% in the second quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock worth $316,000 after buying an additional 5 shares during the last quarter. Tompkins Financial Corp grew its position in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after buying an additional 18 shares during the last quarter. First Financial Bank Trust Division grew its position in McKesson Corporation by 1.3% in the second quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock worth $298,000 after buying an additional 23 shares during the last quarter. LBA Wealth Management LLC grew its position in McKesson Corporation by 0.4% in the first quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock worth $953,000 after buying an additional 25 shares during the last quarter. Finally, SOL Capital Management CO grew its position in McKesson Corporation by 0.9% in the second quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock worth $585,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 85.19% of the company’s stock.
McKesson Corporation (NYSE MCK) traded up 0.2132% during trading on Wednesday, reaching $149.7285. 98,372 shares of the company were exchanged. The firm has a 50-day moving average of $151.72 and a 200-day moving average of $153.61. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The firm has a market cap of $31.48 billion, a price-to-earnings ratio of 6.7932 and a beta of 1.17.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm 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 company posted $3.50 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts forecast that McKesson Corporation will post $12.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio is presently 6.07%.
In other news, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John H. Hammergren sold 125,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The disclosure for this sale can be found here. Insiders sold 952,066 shares of company stock valued at $145,736,987 in the last ninety days. Insiders own 1.20% of the company’s stock.
Several research firms have issued reports on MCK. UBS AG restated a “neutral” rating and issued a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Cowen and Company upgraded shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $176.00 to $189.00 in a research report on Tuesday. Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research report on Monday, July 17th. Robert W. Baird upgraded shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $175.00 to $178.00 in a research report on Tuesday, September 19th. Finally, Jefferies Group LLC set a $165.00 price target on shares of McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $172.45.
McKesson Corporation 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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