SG Americas Securities LLC lowered its position in McKesson Corporation (NYSE:MCK) by 33.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,786 shares of the company’s stock after selling 10,449 shares during the period. SG Americas Securities LLC’s holdings in McKesson Corporation were worth $3,420,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of MCK. Loews Corp purchased a new stake in shares of McKesson Corporation during the first quarter worth about $253,000. Pax World Management LLC boosted its stake 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 worth $246,000 after buying an additional 100 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after buying an additional 192,254 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of McKesson Corporation by 32.6% in the first quarter. Dubuque Bank & Trust Co. now owns 30,712 shares of the company’s stock worth $4,553,000 after buying an additional 7,546 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of McKesson Corporation by 363.4% in the first quarter. Daiwa Securities Group Inc. now owns 27,111 shares of the company’s stock worth $4,019,000 after buying an additional 21,261 shares in the last quarter. Institutional investors own 86.58% of the company’s stock.
McKesson Corporation (MCK) opened at 148.28 on Wednesday. The firm’s 50-day moving average is $159.68 and its 200 day moving average is $152.38. The firm has a market capitalization of $31.18 billion, a P/E ratio of 6.73 and a beta of 1.13. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $194.77.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same period in the prior year, the company posted $3.50 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts expect that McKesson Corporation will post $12.08 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 issued a dividend of $0.34 per share. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is currently 5.00%.
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MCK has been the subject of a number of research analyst reports. Jefferies Group LLC initiated coverage on McKesson Corporation in a report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price objective for the company. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective for the company in a report on Monday, June 19th. Zacks Investment Research cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co upgraded McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. McKesson Corporation presently has an average 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 the company’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 19,309 shares of the company’s stock, valued at $3,162,041.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the sale, the chairman now directly owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,314 shares of company stock valued at $9,987,798. 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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