Harbour Capital Advisors LLC raised its stake in McKesson Corporation (NYSE:MCK) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,371 shares of the company’s stock after buying an additional 10 shares during the period. Harbour Capital Advisors LLC’s holdings in McKesson Corporation were worth $945,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of MCK. Regent Investment Management LLC increased its position in shares of McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock valued at $3,178,000 after buying an additional 8,055 shares in the last quarter. Loews Corp acquired a new position in shares of McKesson Corporation during the first quarter valued at approximately $253,000. Pax World Management LLC increased its position in shares of McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after buying an additional 100 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of McKesson Corporation by 25.7% in the fourth quarter. Highbridge Capital Management LLC now owns 99,465 shares of the company’s stock valued at $13,969,000 after buying an additional 20,309 shares in the last quarter. Finally, Becker Capital Management Inc. increased its position in shares of McKesson Corporation by 40.8% in the fourth quarter. Becker Capital Management Inc. now owns 260,670 shares of the company’s stock valued at $36,611,000 after buying an additional 75,544 shares in the last quarter. Institutional investors own 86.58% of the company’s stock.
McKesson Corporation (NYSE MCK) traded down 0.57% during trading on Friday, hitting $146.00. The stock had a trading volume of 1,980,288 shares. The company has a 50-day moving average of $160.21 and a 200-day moving average of $152.14. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $194.66. The stock has a market capitalization of $30.70 billion, a P/E ratio of 6.62 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data 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. The business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.50 EPS. On average, equities analysts expect that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
Several analysts recently issued reports on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price target for the company. in a research note on Wednesday, May 10th. 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. 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 note on Wednesday, July 12th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $171.21.
In related news, Chairman John H. Hammergren sold 38,619 shares of McKesson Corporation stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the completion of the sale, the chairman now owns 19,309 shares of the company’s stock, valued at $3,162,041.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction 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 directly 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 three months. 1.20% of the stock is 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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