Warren Averett Asset Management LLC lowered its position in McKesson Corporation (NYSE:MCK) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,510 shares of the company’s stock after selling 18 shares during the period. Warren Averett Asset Management LLC’s holdings in McKesson Corporation were worth $1,071,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of McKesson Corporation by 18.7% in the second quarter. Janney Montgomery Scott LLC now owns 33,062 shares of the company’s stock worth $5,440,000 after buying an additional 5,216 shares during the last quarter. Harbour Capital Advisors LLC increased its position in McKesson Corporation by 15,915.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after buying an additional 1,013,942 shares during the period. IBM Retirement Fund increased its position in McKesson Corporation by 120.1% in the second quarter. IBM Retirement Fund now owns 5,200 shares of the company’s stock worth $956,000 after buying an additional 2,837 shares during the period. NGAM Advisors L.P. increased its position in McKesson Corporation by 40.3% in the second quarter. NGAM Advisors L.P. now owns 77,381 shares of the company’s stock worth $12,732,000 after buying an additional 22,240 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in McKesson Corporation by 4.9% in the second quarter. Sumitomo Life Insurance Co. now owns 3,279 shares of the company’s stock worth $540,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) opened at 149.99 on Friday. The firm has a 50-day moving average of $162.85 and a 200 day moving average of $151.95. The firm has a market cap of $31.54 billion, a PE ratio of 6.81 and a beta of 1.13. McKesson Corporation has a 52 week low of $114.53 and a 52 week 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 for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. McKesson Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 EPS. Equities research analysts predict that McKesson Corporation will post $12.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change 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 analysts recently weighed in on the stock. UBS AG reaffirmed a “neutral” rating and issued a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a research report on Monday, July 17th. Leerink Swann raised their target price on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Barclays PLC set a $187.00 target price on shares of McKesson Corporation and gave the company a “buy” rating in a research report on Sunday, June 4th. Finally, Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 809 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $160.66, for a total transaction of $129,973.94. Following the completion of the transaction, the senior vice president now owns 59 shares in the company, valued at $9,478.94. 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 stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total transaction of $64,854.12. Following 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 have sold 60,231 shares of company stock valued at $9,830,297 in the last quarter. 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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