Marshall Wace LLP acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 22,911 shares of the company’s stock, valued at approximately $3,780,000.
Several other institutional investors have also made changes to their positions in MCK. BlackRock Inc. raised its stake in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC purchased a new stake in McKesson Corporation during the first quarter valued at $191,000. Parnassus Investments CA raised its stake in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after buying an additional 3,236,594 shares during the last quarter. Pzena Investment Management LLC raised its stake in McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock valued at $307,951,000 after buying an additional 1,890,815 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock valued at $259,883,000 after buying an additional 1,301,803 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 147.58 on Friday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $186.28. The stock has a 50 day moving average of $157.94 and a 200 day moving average of $152.42. The company has a market cap of $31.03 billion, a price-to-earnings ratio of 6.70 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’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 earnings per share. Equities research analysts predict that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The company 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
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Several equities research analysts have recently weighed in on MCK shares. Zacks Investment Research lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 target price on the stock. in a report on Thursday, May 4th. Jefferies Group LLC started coverage on shares of McKesson Corporation in a report on Wednesday, May 17th. They issued a “hold” rating and a $153.00 target price on the stock. UBS AG upped their target price on shares of McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. Finally, Leerink Swann set a $140.00 target price on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $171.21.
In related news, Chairman John H. Hammergren sold 19,316 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the transaction, the chairman now directly owns 96,644 shares of the company’s stock, valued at approximately $15,686,287.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $163.76, for a total value of $6,324,247.44. Following the transaction, the chairman now directly owns 19,309 shares in the company, valued at $3,162,041.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,314 shares of company stock worth $9,987,798. 1.20% of the stock is currently 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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