DnB Asset Management AS cut its position in shares of McKesson Corporation (NYSE:MCK) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,432 shares of the company’s stock after selling 2,100 shares during the period. DnB Asset Management AS’s holdings in McKesson Corporation were worth $4,020,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in MCK. McQueen Ball & Associates Inc. boosted its stake in shares of McKesson Corporation by 2.1% in the second quarter. McQueen Ball & Associates Inc. now owns 12,270 shares of the company’s stock worth $2,019,000 after buying an additional 250 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of McKesson Corporation by 3.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 32,933 shares of the company’s stock worth $4,882,000 after buying an additional 1,179 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of McKesson Corporation by 0.9% in the first quarter. Nuveen Asset Management LLC now owns 186,273 shares of the company’s stock worth $27,617,000 after buying an additional 1,582 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of McKesson Corporation by 1.8% in the first quarter. Perigon Wealth Management LLC now owns 4,596 shares of the company’s stock worth $683,000 after buying an additional 80 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of McKesson Corporation during the first quarter worth about $191,000. 89.04% of the stock is owned by institutional investors.
Shares of McKesson Corporation (MCK) traded down 0.26% on Monday, reaching $162.08. 63,475 shares of the company’s stock traded hands. The firm has a market cap of $34.08 billion, a P/E ratio of 7.35 and a beta of 1.13. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $197.08. The stock has a 50-day moving average of $164.70 and a 200 day moving average of $151.36.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion for 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%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 earnings per share. On average, equities research analysts expect that McKesson Corporation will post $12.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a dividend of $0.34 per share. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s payout ratio is currently 5.00%.
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A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research note on Thursday. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective for the company. in a research note on Monday, July 17th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Wednesday, July 12th. Leerink Swann upped their price objective on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $171.21.
In other news, Chairman John H. Hammergren sold 19,316 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the completion of the sale, the chairman now directly owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the sale, the chairman now directly owns 19,309 shares of the company’s stock, valued at $3,162,041.84. The disclosure for this sale can be found here. Insiders have sold 59,148 shares of company stock valued at $9,654,255 over the last three months. 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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