Nordea Investment Management AB increased its position in McKesson Corp. (NYSE:MCK) by 35.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 49,407 shares of the company’s stock after buying an additional 12,914 shares during the period. Nordea Investment Management AB’s holdings in McKesson Corp. were worth $9,222,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MCK. Gilman Hill Asset Management LLC boosted its position in shares of McKesson Corp. by 0.4% in the second quarter. Gilman Hill Asset Management LLC now owns 1,657 shares of the company’s stock worth $309,000 after buying an additional 7 shares during the period. Pitcairn Co. boosted its position in shares of McKesson Corp. by 0.6% in the second quarter. Pitcairn Co. now owns 1,516 shares of the company’s stock worth $283,000 after buying an additional 9 shares during the period. Bartlett & Co. LLC boosted its position in shares of McKesson Corp. by 2.3% in the second quarter. Bartlett & Co. LLC now owns 1,753 shares of the company’s stock worth $327,000 after buying an additional 39 shares during the period. Murphy Capital Management Inc. boosted its position in shares of McKesson Corp. by 0.4% in the second quarter. Murphy Capital Management Inc. now owns 10,012 shares of the company’s stock worth $1,868,000 after buying an additional 41 shares during the period. Finally, MSI Financial Services Inc boosted its position in shares of McKesson Corp. by 1.0% in the second quarter. MSI Financial Services Inc now owns 4,271 shares of the company’s stock worth $797,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 84.75% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 0.22% during mid-day trading on Monday, reaching $160.65. The company had a trading volume of 1,267,335 shares. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The company has a market capitalization of $36.26 billion, a price-to-earnings ratio of 16.68 and a beta of 0.93. The stock has a 50-day moving average of $171.17 and a 200 day moving average of $179.23.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.17. The business 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 company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.14 earnings per share. On average, analysts expect that McKesson Corp. will post $13.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders 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 annualized dividend and a yield of 0.70%. McKesson Corp.’s payout ratio is currently 11.64%.
A number of equities research analysts have recently commented on the company. Zacks Investment Research lowered McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Mizuho dropped their price target on 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 reaffirmed a “hold” rating on shares of McKesson Corp. in a research report on Monday, September 19th. Vetr raised McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Finally, Goldman Sachs Group Inc. lowered McKesson Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $210.00 to $189.00 in a research 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 stock. McKesson Corp. has a consensus rating of “Buy” and a consensus price target of $201.17.
In other news, Director Marie L/Ca Knowles sold 915 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $192.73, for a total value of $176,347.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 100,500 shares of the 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 completion of the sale, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.
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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