Community Bank & Trust Waco Texas acquired a new stake in McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,080 shares of the company’s stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Virginia Retirement System bought a new position in McKesson Corp. during the first quarter valued at $587,000. Ngam Advisors L.P. boosted its position 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. Stratos Wealth Partners LTD. boosted its position 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. Prudential Financial Inc. boosted its position 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. Finally, Rehmann Capital Advisory Group boosted its position 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. Institutional investors own 84.77% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.82% during trading on Monday, hitting $165.38. The stock had a trading volume of 1,164,358 shares. 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 $178.92 and a 200 day moving average price of $179.15. The company has a market cap of $37.33 billion, a P/E ratio of 17.17 and a beta of 0.93.
McKesson Corp. (NYSE:MCK) last released its earnings results 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. The firm had revenue of $49.73 billion for 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 company’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 EPS. Equities analysts expect that McKesson Corp. will post $13.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio is currently 11.64%.
A number of research analysts have commented on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of McKesson Corp. in a research report on Monday, July 18th. Citigroup Inc. increased their price target on shares of McKesson Corp. from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Morgan Stanley increased their price target on shares of McKesson Corp. from $199.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Mizuho increased their price target on shares of McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. increased their price target on shares of McKesson Corp. from $210.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. McKesson Corp. presently has an average rating of “Buy” and an average price target of $201.17.
In other McKesson Corp. news, CFO James A. Beer sold 5,500 shares of the company’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $199.00, for a total value of $1,094,500.00. Following the transaction, the chief financial officer now owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 915 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $193.78, for a total value of $177,308.70. The disclosure for this sale can be found here. 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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