Bartlett & Co. LLC boosted its position in shares of McKesson Corp. (NYSE:MCK) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,753 shares of the company’s stock after buying an additional 39 shares during the period. Bartlett & Co. LLC’s holdings in McKesson Corp. were worth $327,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MCK. Diversified Trust Co boosted its stake in McKesson Corp. by 656.4% in the second quarter. Diversified Trust Co now owns 14,197 shares of the company’s stock worth $2,650,000 after buying an additional 12,320 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in McKesson Corp. during the second quarter worth about $1,400,000. PGGM Investments boosted its stake in McKesson Corp. by 202.3% in the second quarter. PGGM Investments now owns 352,300 shares of the company’s stock worth $65,757,000 after buying an additional 235,776 shares in the last quarter. Strs Ohio boosted its stake in McKesson Corp. by 11.8% in the second quarter. Strs Ohio now owns 427,708 shares of the company’s stock worth $79,831,000 after buying an additional 45,195 shares in the last quarter. Finally, Grimes & Company Inc. boosted its stake in McKesson Corp. by 11.7% in the second quarter. Grimes & Company Inc. now owns 24,241 shares of the company’s stock worth $4,525,000 after buying an additional 2,538 shares in the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 1.32% during midday trading on Thursday, reaching $164.42. The company had a trading volume of 1,444,529 shares. The company has a market capitalization of $37.11 billion, a PE ratio of 17.07 and a beta of 0.95. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The stock has a 50-day moving average price of $180.24 and a 200 day moving average price of $178.81.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.17. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $50.32 billion. During the same quarter last year, the business posted $3.14 EPS. McKesson Corp.’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts forecast that McKesson Corp. will post $13.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, August 30th. McKesson Corp.’s payout ratio is presently 11.64%.
A number of analysts have recently issued reports on the company. Zacks Investment Research cut McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday. Mizuho decreased their price target on McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a research note on Monday. Argus reaffirmed a “hold” rating on shares of McKesson Corp. in a research note on Monday, September 19th. Vetr raised McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 16th. Finally, Goldman Sachs Group Inc. lowered McKesson Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $210.00 to $189.00 in a research note on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $201.17.
In other news, Director Wayne A. Budd sold 2,309 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $179.70, for a total value of $414,927.30. Following the transaction, the director now directly owns 723 shares of the company’s stock, valued at approximately $129,923.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $180.77, for a total value of $18,167,385.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares in the company, valued at $18,167,385. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
About McKesson Corp.
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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