First National Trust Co. decreased its stake in shares of McKesson Corp. (NYSE:MCK) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,799 shares of the company’s stock after selling 394 shares during the period. First National Trust Co.’s holdings in McKesson Corp. were worth $1,829,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MCK. Scharf Investments LLC raised its position in shares of McKesson Corp. by 11,803.7% in the first quarter. Scharf Investments LLC now owns 1,190,016 shares of the company’s stock valued at $187,130,000 after buying an additional 1,180,019 shares during the period. Wellington Management Group LLP raised its position in shares of McKesson Corp. by 9.3% in the first quarter. Wellington Management Group LLP now owns 11,312,022 shares of the company’s stock valued at $1,778,816,000 after buying an additional 961,630 shares during the period. Cornerstone Investment Partners LLC raised its position in shares of McKesson Corp. by 2,769.9% in the second quarter. Cornerstone Investment Partners LLC now owns 457,779 shares of the company’s stock valued at $85,444,000 after buying an additional 441,828 shares during the period. Orbis Allan Gray Ltd bought a new position in shares of McKesson Corp. during the first quarter valued at approximately $63,790,000. Finally, Prudential Financial Inc. raised 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 valued at $153,057,000 after buying an additional 303,530 shares during the period. 84.77% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corp. (NYSE:MCK) traded up 1.42% on Friday, reaching $166.75. 2,085,203 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $180.24 and a 200 day moving average of $178.81. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20. The stock has a market capitalization of $37.64 billion, a PE ratio of 17.32 and a beta of 0.95.
McKesson Corp. (NYSE:MCK) last posted its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.17. The firm earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.14 earnings per share. Equities analysts predict that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio (DPR) is presently 11.64%.
Several brokerages recently commented on MCK. FBR & Co reaffirmed a “buy” rating on shares of McKesson Corp. in a research report on Saturday, June 4th. Morgan Stanley upped their price target on shares of McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Citigroup Inc. increased their price objective on shares of McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Mizuho increased their price objective on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of McKesson Corp. in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. McKesson Corp. 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 McKesson Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $180.77, for a total value of $18,167,385.00. Following the completion of the sale, the chairman now directly owns 100,500 shares in the company, valued at $18,167,385. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A. Budd sold 2,309 shares of McKesson Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $179.70, for a total transaction of $414,927.30. Following the completion of the sale, the director now owns 723 shares of the company’s stock, valued at $129,923.10. The disclosure for this sale can be found here. 1.15% of the stock is currently 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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