Pitcairn Co. increased its position in McKesson Corporation (NYSE:MCK) by 267.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,129 shares of the company’s stock after buying an additional 4,463 shares during the period. Pitcairn Co.’s holdings in McKesson Corporation were worth $1,009,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Bourgeon Capital Management LLC acquired a new stake in McKesson Corporation during the second quarter worth approximately $3,526,000. Wedbush Securities Inc. increased its stake in McKesson Corporation by 9.7% in the second quarter. Wedbush Securities Inc. now owns 2,725 shares of the company’s stock worth $448,000 after buying an additional 240 shares in the last quarter. Sigma Planning Corp acquired a new stake in McKesson Corporation during the second quarter worth approximately $233,000. Pekin Singer Strauss Asset Management IL increased its stake in McKesson Corporation by 610.1% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 44,597 shares of the company’s stock worth $7,338,000 after buying an additional 38,317 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in McKesson Corporation by 3.3% in the second quarter. Rhumbline Advisers now owns 355,178 shares of the company’s stock worth $58,441,000 after buying an additional 11,257 shares in the last quarter. Hedge funds and other institutional investors own 86.58% of the company’s stock.
McKesson Corporation (NYSE MCK) opened at 146.00 on Monday. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $194.77. The firm has a market capitalization of $30.70 billion, a PE ratio of 6.62 and a beta of 1.13. The company’s 50-day moving average price is $160.21 and its 200 day moving average price is $152.14.
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 the consensus estimate of $2.81 by $0.35. The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.50 earnings per share. On average, equities analysts anticipate that McKesson Corporation will post $12.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is 5.00%.
A number of equities research analysts have commented on the company. BidaskClub downgraded McKesson Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Thursday, July 27th. Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research report on Monday, July 17th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Wednesday, July 12th. Finally, Leerink Swann lifted their target price on McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. McKesson Corporation presently has an average rating of “Hold” and a consensus target price of $171.21.
In related news, SVP Erin M. Lampert sold 809 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total value of $129,973.94. Following the transaction, the senior vice president now directly owns 59 shares of the company’s stock, valued at approximately $9,478.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin M. Lampert sold 404 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the transaction, the senior vice president now directly 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 60,231 shares of company stock worth $9,830,297 over the last ninety days. Corporate 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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