Gateway Investment Advisers LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,912 shares of the company’s stock after buying an additional 321 shares during the period. Gateway Investment Advisers LLC’s holdings in McKesson Corporation were worth $2,618,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in McKesson Corporation during the first quarter worth about $100,000. Orrstown Financial Services Inc. increased its position in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the period. Archford Capital Strategies LLC increased its position in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares during the period. Tompkins Financial Corp increased 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 period. Finally, WFG Advisors LP increased its position in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 89.04% of the company’s stock.
McKesson Corporation (NYSE:MCK) traded down 0.21% during midday trading on Friday, hitting $155.01. 275,703 shares of the company were exchanged. The stock has a 50 day moving average of $164.64 and a 200-day moving average of $151.68. The stock has a market capitalization of $32.59 billion, a price-to-earnings ratio of 7.03 and a beta of 1.13. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $197.08.
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 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 company 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 business posted $3.50 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that McKesson Corporation will post $12.10 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
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A number of research firms have issued reports on MCK. UBS AG lifted 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. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research note on Thursday, July 27th. BidaskClub downgraded McKesson Corporation from a “buy” rating to a “hold” rating in a research note on Monday. 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 upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a research note on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. McKesson Corporation currently has an average rating of “Hold” and a consensus price target of $171.21.
In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total value of $64,854.12. Following the sale, the senior vice president now owns 2,003 shares in the company, valued at $321,541.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John H. Hammergren sold 19,316 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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 owns 96,644 shares in the company, valued at approximately $15,686,287.64. The disclosure for this sale can be found here. Insiders sold 60,231 shares of company stock worth $9,830,297 in the last 90 days. 1.20% of the stock is currently 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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