1ST Source Bank boosted its stake in shares of McKesson Corp. (NYSE:MCK) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 4,279 shares of the company’s stock after buying an additional 4 shares during the period. 1ST Source Bank’s holdings in McKesson Corp. were worth $799,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of MCK. Seven Eight Capital LLC purchased a new stake in shares of McKesson Corp. during the first quarter valued at approximately $110,000. Kelman Lazarov Inc. bought a new position in shares of McKesson Corp. during the second quarter valued at about $115,000. Welch Group LLC bought a new position in shares of McKesson Corp. during the second quarter valued at about $126,000. Winslow Evans & Crocker Inc. increased its position in shares of McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares during the period. Finally, Community Bank & Trust Waco Texas bought a new position in shares of McKesson Corp. during the second quarter valued at about $202,000. Institutional investors own 84.75% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 0.65% during trading on Monday, reaching $159.96. The company’s stock had a trading volume of 694,999 shares. The company’s 50-day moving average is $171.17 and its 200-day moving average is $179.23. The stock has a market cap of $36.10 billion, a PE ratio of 16.61 and a beta of 0.93. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 EPS 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 firm had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. During the same period last year, the firm posted $3.14 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts expect that McKesson Corp. will post $13.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders 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 dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s payout ratio is 11.64%.
Several brokerages recently issued reports on MCK. Zacks Investment Research downgraded shares of McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Mizuho reduced their price target on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Argus reiterated a “hold” rating on shares of McKesson Corp. in a research report on Monday, September 19th. Vetr upgraded shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Finally, Goldman Sachs Group Inc. downgraded shares of McKesson Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $210.00 to $189.00 in a research report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. McKesson Corp. currently has a consensus rating of “Buy” and an average price target of $201.17.
In other news, Chairman John H. Hammergren sold 100,500 shares of McKesson Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $180.77, for a total transaction of $18,167,385.00. Following the sale, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,167,385. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of McKesson Corp. stock in a transaction dated Monday, October 3rd. The shares were 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. 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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