CAM Group Holding A S increased its position in shares of McKesson Corp. (NYSE:MCK) by 2.7% during the second quarter, Holdings Channel reports. The firm owned 1,292,475 shares of the company’s stock after buying an additional 33,903 shares during the period. McKesson Corp. makes up about 4.6% of CAM Group Holding A S’s investment portfolio, making the stock its 11th largest position. CAM Group Holding A S’s holdings in McKesson Corp. were worth $241,241,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in McKesson Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,897,745 shares of the company’s stock valued at $297,829,000 after buying an additional 29,337 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in McKesson Corp. during the first quarter valued at $952,000. Parametric Risk Advisors LLC acquired a new position in McKesson Corp. during the first quarter valued at $448,000. Sentry Investments Corp. increased its position in McKesson Corp. by 5.9% in the first quarter. Sentry Investments Corp. now owns 927,150 shares of the company’s stock valued at $145,794,000 after buying an additional 51,750 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in McKesson Corp. during the first quarter valued at $885,000. Institutional investors own 84.75% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded up 0.90% during trading on Tuesday, hitting $162.10. The stock had a trading volume of 743,683 shares. The firm has a 50 day moving average of $170.54 and a 200-day moving average of $179.56. The company has a market cap of $36.59 billion, a P/E ratio of 16.83 and a beta of 0.93. McKesson Corp. has a one year low of $148.29 and a one year high of $202.20.
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, topping the Zacks’ consensus estimate of $3.33 by $0.17. The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.14 earnings per share. Equities analysts anticipate that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s dividend payout ratio (DPR) is currently 11.64%.
Several research analysts have weighed in on MCK shares. Vetr upgraded McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 16th. Zacks Investment Research downgraded McKesson Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. Leerink Swann restated an “outperform” rating and issued a $230.00 price target on shares of McKesson Corp. in a research note on Thursday, September 1st. Mizuho decreased their price objective on McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, September 26th. Finally, Goldman Sachs Group Inc. cut McKesson Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $210.00 to $189.00 in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. McKesson Corp. currently has a consensus rating of “Buy” and an average target price of $201.17.
In other McKesson Corp. news, Director M Christine Jacobs sold 915 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $193.78, for a total transaction of $177,308.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $165.94, for a total value of $288,569.66. The disclosure for this sale can be found here. Company insiders own 1.15% of the company’s stock.
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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