BT Investment Management Ltd bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,161 shares of the company’s stock, valued at approximately $2,001,000.
Several other large investors have also recently bought and sold shares of MCK. American Beacon Advisors Inc. purchased a new position in shares of McKesson Corporation during the 1st quarter valued at approximately $100,000. Captrust Financial Advisors purchased a new position in shares of McKesson Corporation during the 2nd quarter valued at approximately $107,000. Archford Capital Strategies LLC increased its holdings in shares of McKesson Corporation by 52.8% during the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares in the last quarter. WFG Advisors LP increased its holdings in shares of McKesson Corporation by 123.5% during the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after purchasing an additional 452 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its holdings in shares of McKesson Corporation by 6.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares in the last quarter. 85.16% of the stock is owned by hedge funds and other institutional investors.
MCK has been the subject of several recent research reports. Vetr lowered shares of McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 target price for the company. in a report on Monday, May 22nd. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Zacks Investment Research raised shares of McKesson Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Morgan Stanley boosted their price target on shares of McKesson Corporation from $165.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, May 25th. Finally, TheStreet raised shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Two 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 company’s stock. McKesson Corporation has an average rating of “Hold” and a consensus target price of $171.53.
Shares of McKesson Corporation (MCK) opened at 148.42 on Tuesday. The firm’s 50-day moving average is $151.79 and its 200 day moving average is $153.05. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The firm has a market cap of $31.21 billion, a PE ratio of 6.73 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the prior year, the business earned $3.50 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post $12.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. 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. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.07%.
In other news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total value of $176,041.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,066 shares of company stock valued at $473,627. Company insiders own 1.20% of the company’s stock.
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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