KCG Holdings Inc. lowered its position in shares of McKesson Corporation (NYSE:MCK) by 44.6% during the first quarter, Holdings Channel reports. The fund owned 10,993 shares of the company’s stock after selling 8,866 shares during the period. KCG Holdings Inc.’s holdings in McKesson Corporation were worth $1,630,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after buying an additional 192,254 shares during the last quarter. BlackRock Inc. raised its position in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of 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 worth $730,560,000 after buying an additional 180,107 shares during the last quarter. Parnassus Investments CA raised its position in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of McKesson Corporation by 18.0% in the first quarter. Alliancebernstein L.P. now owns 2,319,256 shares of the company’s stock worth $343,853,000 after buying an additional 354,590 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 165.41 on Wednesday. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $199.27. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 7.28 and a beta of 1.13. The firm has a 50-day moving average of $164.32 and a 200 day moving average of $150.40.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.35. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The business had revenue of $48.71 billion for the quarter, compared to analyst estimates of $49.48 billion. During the same period last year, the business earned $2.44 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, analysts predict that McKesson Corporation will post $12.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. McKesson Corporation’s payout ratio is 4.80%.
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Several research analysts recently commented on the company. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Wednesday, July 12th. Vetr upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a research report on Thursday, May 25th. J P Morgan Chase & Co upgraded McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a research report on Tuesday, May 23rd. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. Finally, UBS AG lifted their price target on McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $171.21.
In other news, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction on 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 sale, the chairman now directly owns 19,309 shares in the company, valued at approximately $3,162,041.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were 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 owns 2,003 shares in the company, valued at $321,541.59. The disclosure for this sale can be found here. Insiders sold a total of 59,148 shares of company stock worth $9,654,255 over 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.
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