Morningstar Investment Services LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 13.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,836 shares of the company’s stock after buying an additional 27,561 shares during the period. Morningstar Investment Services LLC owned about 0.11% of McKesson Corporation worth $38,475,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Tompkins Financial Corp raised its stake in shares of 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. First Financial Bank Trust Division raised its stake in shares of McKesson Corporation by 1.3% in the second quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock worth $298,000 after buying an additional 23 shares during the period. Palisade Asset Management LLC raised its stake in shares of McKesson Corporation by 0.7% in the first quarter. Palisade Asset Management LLC now owns 3,790 shares of the company’s stock worth $562,000 after buying an additional 25 shares during the period. LBA Wealth Management LLC raised its stake in shares of McKesson Corporation by 0.4% in the first quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock worth $953,000 after buying an additional 25 shares during the period. Finally, SOL Capital Management CO raised its stake in shares of McKesson Corporation by 0.9% in the second quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock worth $585,000 after buying an additional 30 shares during the period. 86.58% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Corporation (NYSE MCK) opened at 146.14 on Tuesday. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $194.77. The firm has a market cap of $30.73 billion, a P/E ratio of 6.63 and a beta of 1.13. The firm has a 50 day moving average of $159.68 and a 200-day moving average of $152.38.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 25.76% and a net margin of 2.42%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.50 EPS. On average, equities research analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 5.00%.
Several research firms have commented on MCK. UBS AG upped their price target on shares of McKesson Corporation from $145.00 to $156.00 and gave the company a “neutral” rating in a report on Friday, May 19th. TheStreet raised shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target on the stock in a report on Thursday, May 25th. Finally, Morgan Stanley upped their price target on shares of McKesson Corporation from $165.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $171.21.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of McKesson Corporation stock in a transaction dated 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 completion of the transaction, the chairman now owns 19,309 shares in the company, valued at $3,162,041.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by insiders.
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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