Brown Advisory Inc. increased its position in McKesson Corp. (NYSE:MCK) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,526 shares of the company’s stock after buying an additional 273 shares during the period. Brown Advisory Inc.’s holdings in McKesson Corp. were worth $845,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in MCK. Rehmann Capital Advisory Group raised its stake in shares of McKesson Corp. by 2.6% in the first quarter. Rehmann Capital Advisory Group now owns 3,413 shares of the company’s stock worth $537,000 after buying an additional 88 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of McKesson Corp. by 45.3% in the first quarter. Prudential Financial Inc. now owns 973,341 shares of the company’s stock worth $153,057,000 after buying an additional 303,530 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of McKesson Corp. by 9.0% in the first quarter. Stratos Wealth Partners LTD. now owns 1,727 shares of the company’s stock worth $272,000 after buying an additional 142 shares during the last quarter. Ngam Advisors L.P. raised its stake in shares of McKesson Corp. by 43.6% in the first quarter. Ngam Advisors L.P. now owns 34,891 shares of the company’s stock worth $5,487,000 after buying an additional 10,590 shares during the last quarter. Finally, Dubuque Bank & Trust Co. raised its stake in shares of McKesson Corp. by 42.8% in the first quarter. Dubuque Bank & Trust Co. now owns 18,905 shares of the company’s stock worth $2,973,000 after buying an additional 5,669 shares during the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.61% during trading on Thursday, hitting $165.60. 236,864 shares of the stock traded hands. The firm has a market cap of $37.38 billion, a price-to-earnings ratio of 17.20 and a beta of 0.95. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20. The stock has a 50 day moving average of $181.13 and a 200 day moving average of $178.92.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.17. The business earned $49.73 billion during the quarter, compared to the consensus estimate of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.14 EPS. Analysts expect that McKesson Corp. will post $13.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio is currently 11.64%.
A number of equities research analysts have recently weighed in on MCK shares. Raymond James Financial Inc. lowered shares of McKesson Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a report on Saturday, June 4th. Mizuho restated a “neutral” rating and issued a $174.00 price objective (up from $164.00) on shares of McKesson Corp. in a report on Tuesday, June 7th. Bank of America Corp. restated a “neutral” rating and issued a $190.00 price objective on shares of McKesson Corp. in a report on Tuesday, June 7th. Finally, Vetr lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating and set a $188.01 price objective for the company. in a report on Monday, June 13th. One 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 given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $201.17.
In other McKesson Corp. news, Director Wayne A. Budd sold 2,309 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $179.70, for a total value of $414,927.30. Following the completion of the sale, the director now directly owns 723 shares in the company, valued at approximately $129,923.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marie L/Ca Knowles sold 915 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $192.73, for a total value of $176,347.95. The disclosure for this sale can be found here. 1.15% of the stock is owned by corporate insiders.
McKesson Corp. Company Profile
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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