McKesson Corporation (NYSE:MCK) Shares Bought by Global X Management Co. LLC

Global X Management Co. LLC raised its stake in shares of McKesson Corporation (NYSE:MCK) by 28.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,385 shares of the company’s stock after buying an additional 523 shares during the period. Global X Management Co. LLC’s holdings in McKesson Corporation were worth $354,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Orrstown Financial Services Inc. raised its position in shares of McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the period. WFG Advisors LP raised its position in shares of McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares during the period. Welch Group LLC raised its position in shares of McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock valued at $141,000 after buying an additional 175 shares during the period. Tompkins Financial Corp raised its position in shares of McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock valued at $151,000 after buying an additional 78 shares during the period. Finally, Balentine LLC raised its position in shares of McKesson Corporation by 62.0% in the first quarter. Balentine LLC now owns 1,131 shares of the company’s stock valued at $168,000 after buying an additional 433 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of McKesson Corporation (MCK) traded up 1.01% on Tuesday, reaching $157.26. The company’s stock had a trading volume of 1,510,118 shares. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08. The company has a market cap of $33.07 billion, a price-to-earnings ratio of 7.13 and a beta of 1.13. The stock has a 50-day moving average of $164.07 and a 200 day moving average of $151.79.

McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $51.22 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Corporation will post $12.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.86%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 5.00%.

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Several brokerages have issued reports on MCK. UBS AG boosted their price target on McKesson Corporation from $145.00 to $156.00 and gave the company a “neutral” rating in a research note on Friday, May 19th. BidaskClub lowered McKesson Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday, July 27th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. Finally, Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $171.21.

In other news, Director Marie L/Ca Knowles sold 1,083 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin M. Lampert sold 404 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the transaction, the senior vice president now owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The disclosure for this sale can be found here. Insiders sold 60,231 shares of company stock valued at $9,830,297 in the last 90 days. Company insiders own 1.20% of the company’s stock.

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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