Papp L Roy & Associates maintained its position in shares of McKesson Corp. (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund owned 1,350 shares of the company’s stock at the end of the second quarter. Papp L Roy & Associates’ holdings in McKesson Corp. were worth $252,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Natixis bought a new stake in McKesson Corp. during the first quarter worth about $26,933,000. Nisa Investment Advisors LLC raised its stake in McKesson Corp. by 9.0% in the second quarter. Nisa Investment Advisors LLC now owns 97,908 shares of the company’s stock worth $18,274,000 after buying an additional 8,101 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in McKesson Corp. during the first quarter worth about $63,790,000. PGGM Investments raised its stake in McKesson Corp. by 202.3% in the second quarter. PGGM Investments now owns 352,300 shares of the company’s stock worth $65,757,000 after buying an additional 235,776 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in McKesson Corp. by 2.8% in the first quarter. Legal & General Group Plc now owns 1,124,131 shares of the company’s stock worth $176,779,000 after buying an additional 30,231 shares during the last quarter. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Corp. (NYSE:MCK) traded up 0.17% during midday trading on Tuesday, reaching $165.66. The company’s stock had a trading volume of 1,208,067 shares. The firm has a market cap of $37.39 billion, a price-to-earnings ratio of 17.20 and a beta of 0.93. The company’s 50-day moving average is $178.53 and its 200 day moving average is $179.25. 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 data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $50.32 billion. During the same period in the previous year, the business earned $3.14 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Equities analysts forecast that McKesson Corp. will post $13.63 earnings per share for the current year.
The company 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 annualized dividend and a dividend yield of 0.68%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
A number of analysts recently issued reports on the company. Vetr upgraded McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 16th. Bank of America Corp. reiterated a “neutral” rating and set a $190.00 price objective on shares of McKesson Corp. in a research note on Tuesday, June 7th. Deutsche Bank AG reiterated a “buy” rating on shares of McKesson Corp. in a research note on Monday, July 18th. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a research note on Wednesday, June 22nd. Finally, Mizuho boosted their price objective on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. McKesson Corp. presently has a consensus rating of “Buy” and a consensus target price of $201.17.
In other McKesson Corp. news, CFO James A. Beer sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $199.00, for a total transaction of $1,094,500.00. Following the sale, the chief financial officer now directly owns 12,412 shares of the company’s stock, valued at $2,469,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John H. Hammergren sold 100,500 shares of the business’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 sale, the chairman now directly owns 100,500 shares in the company, valued at $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is owned by 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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