LS Investment Advisors LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,599 shares of the company’s stock after buying an additional 227 shares during the period. LS Investment Advisors LLC’s holdings in McKesson Corporation were worth $1,086,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in McKesson Corporation by 0.9% in the first 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 during the last quarter. BlackRock Inc. increased its position in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC purchased a new position in McKesson Corporation during the first quarter valued at approximately $191,000. Massachusetts Financial Services Co. MA increased its stake in McKesson Corporation by 3.8% in the first 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. Finally, Parnassus Investments CA increased its stake in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after buying an additional 3,236,594 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of McKesson Corporation (NYSE:MCK) opened at 157.26 on Wednesday. The stock has a market capitalization of $33.07 billion, a price-to-earnings ratio of 7.13 and a beta of 1.13. McKesson Corporation has a one year low of $114.53 and a one year high of $197.08. The firm has a 50-day moving average of $164.07 and a 200 day moving average of $151.79.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion during 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%. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $3.50 earnings per share. On average, equities research analysts predict that McKesson Corporation will post $12.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.86%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s payout ratio is 5.00%.
Several equities research analysts have issued reports on MCK shares. Jefferies Group LLC started coverage on McKesson Corporation in a research report on Wednesday, May 17th. They set a “hold” rating and a $153.00 target price on the stock. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price on the stock in a research report on Monday, June 19th. Zacks Investment Research downgraded McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a report on Tuesday, May 23rd. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $174.00 price target on shares of McKesson Corporation in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $171.21.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of the sale, the chairman now directly owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Erin M. Lampert sold 404 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total transaction of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by corporate insiders.
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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