Boston Advisors LLC lowered its position in shares of McKesson Corp. (NYSE:MCK) by 12.0% during the second quarter, Holdings Channel reports. The firm owned 23,952 shares of the company’s stock after selling 3,264 shares during the period. Boston Advisors LLC’s holdings in McKesson Corp. were worth $4,471,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in MCK. Mn Services Vermogensbeheer B.V. bought a new stake in shares of McKesson Corp. during the first quarter worth about $795,000. Virginia Retirement System acquired a new position in McKesson Corp. during the first quarter worth $587,000. BTC Capital Management Inc. raised its position in McKesson Corp. by 11.4% in the first quarter. BTC Capital Management Inc. now owns 11,022 shares of the company’s stock worth $1,730,000 after buying an additional 1,125 shares during the period. Badgley Phelps & Bell Inc. raised its position in McKesson Corp. by 4.6% in the first quarter. Badgley Phelps & Bell Inc. now owns 40,915 shares of the company’s stock worth $6,434,000 after buying an additional 1,812 shares during the period. Finally, Bowling Portfolio Management LLC acquired a new position in McKesson Corp. during the first quarter worth $2,675,000. 84.77% of the stock is owned by institutional investors and hedge funds.
Shares of McKesson Corp. (NYSE:MCK) traded down 1.32% during trading on Thursday, reaching $164.42. 1,444,529 shares of the company’s stock were exchanged. The company has a market capitalization of $37.11 billion, a P/E ratio of 17.07 and a beta of 0.95. The stock has a 50-day moving average price of $180.24 and a 200 day moving average price of $178.81. 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 earnings results on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates 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 earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. During the same period last year, the business posted $3.14 EPS. McKesson Corp.’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 business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio is currently 11.64%.
A number of research analysts recently weighed in on the stock. Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Bank of America Corp. reissued a “neutral” rating and issued a $190.00 target price on shares of McKesson Corp. in a report on Tuesday, June 7th. Deutsche Bank AG reissued a “buy” rating on shares of McKesson Corp. in a report on Monday, July 18th. FBR & Co reissued a “buy” rating on shares of McKesson Corp. in a report on Wednesday, June 22nd. Finally, Mizuho raised their target price on shares of McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $201.17.
In other McKesson Corp. news, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $180.77, for a total value of $18,167,385.00. Following the sale, the chairman now owns 100,500 shares of the company’s stock, valued at approximately $18,167,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A. Budd sold 2,309 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.70, for a total value of $414,927.30. Following the completion of the sale, the director now directly owns 723 shares in the company, valued at approximately $129,923.10. The disclosure for this sale can be found here. 1.15% of the stock is owned by company 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.
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