Candriam Luxembourg S.C.A. reduced its position in shares of McKesson Corp. (NYSE:MCK) by 86.5% during the second quarter, Holdings Channel reports. The fund owned 7,288 shares of the company’s stock after selling 46,527 shares during the period. Candriam Luxembourg S.C.A.’s holdings in McKesson Corp. were worth $1,360,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Scharf Investments LLC raised its position in shares of McKesson Corp. by 11,803.7% in the first quarter. Scharf Investments LLC now owns 1,190,016 shares of the company’s stock worth $187,130,000 after buying an additional 1,180,019 shares during the last quarter. Wellington Management Group LLP raised its position in McKesson Corp. by 9.3% in the first quarter. Wellington Management Group LLP now owns 11,312,022 shares of the company’s stock valued at $1,778,816,000 after buying an additional 961,630 shares in the last quarter. Cornerstone Investment Partners LLC raised its position in McKesson Corp. by 2,769.9% in the second quarter. Cornerstone Investment Partners LLC now owns 457,779 shares of the company’s stock valued at $85,444,000 after buying an additional 441,828 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in McKesson Corp. during the first quarter valued at about $63,790,000. Finally, Bank of Montreal Can bought a new position in McKesson Corp. during the second quarter valued at about $54,756,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded up 0.01% on Wednesday, hitting $165.67. The company’s stock had a trading volume of 1,555,167 shares. The stock has a market cap of $37.39 billion, a PE ratio of 17.20 and a beta of 0.93. The firm has a 50 day moving average of $176.82 and a 200-day moving average of $179.20. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20.
McKesson Corp. (NYSE:MCK) last posted its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, beating the Zacks’ 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 analyst estimates of $50.32 billion. During the same quarter last year, the company earned $3.14 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. McKesson Corp.’s dividend payout ratio is presently 11.64%.
Several research analysts have recently issued reports on MCK shares. Mizuho restated a “neutral” rating and issued a $174.00 price target (up from $164.00) on shares of McKesson Corp. in a research report on Tuesday, June 7th. Bank of America Corp. restated a “neutral” rating and issued a $190.00 price target on shares of McKesson Corp. in a research report on Tuesday, June 7th. Vetr lowered McKesson Corp. from a “buy” rating to a “hold” rating and set a $188.01 price target on the stock. in a research report on Monday, June 13th. FBR & Co restated a “buy” rating on shares of McKesson Corp. in a research report on Wednesday, June 22nd. Finally, Robert W. Baird restated a “buy” rating and issued a $220.00 price target on shares of McKesson Corp. in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $201.17.
In other news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total value of $18,514,110.00. Following the transaction, the chairman now owns 100,500 shares in the company, valued at $18,514,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James A. Beer sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $199.00, for a total value of $1,094,500.00. Following the completion of the transaction, the chief financial officer now owns 12,412 shares in the company, valued at approximately $2,469,988. The disclosure for this sale can be found here. 1.15% of the stock is owned by 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.
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corp. (NYSE:MCK).
Receive News & Ratings for McKesson Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corp. and related companies with MarketBeat.com's FREE daily email newsletter.