Lucus Advisors LLC purchased a new stake in shares of McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,870 shares of the company’s stock, valued at approximately $349,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new position in McKesson Corp. during the first quarter valued at $587,000. Bowling Portfolio Management LLC purchased a new position in McKesson Corp. during the first quarter valued at $2,675,000. Addenda Capital Inc. raised its position in McKesson Corp. by 5.4% in the first quarter. Addenda Capital Inc. now owns 16,846 shares of the company’s stock valued at $2,497,000 after buying an additional 865 shares in the last quarter. CQS Cayman LP purchased a new position in McKesson Corp. during the first quarter valued at $7,142,000. Finally, Pacad Investment Ltd. raised its position in McKesson Corp. by 40.3% in the first quarter. Pacad Investment Ltd. now owns 28,961 shares of the company’s stock valued at $4,554,000 after buying an additional 8,319 shares in the last quarter. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corp. (NYSE:MCK) traded up 1.42% on Friday, reaching $166.75. The company had a trading volume of 2,085,203 shares. The firm has a market capitalization of $37.64 billion, a PE ratio of 17.32 and a beta of 0.95. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20. The company’s 50-day moving average is $179.38 and its 200 day moving average is $178.82.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, beating the 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 earned $49.73 billion during the quarter, compared to the consensus estimate of $50.32 billion. During the same quarter in the prior year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts forecast that McKesson Corp. will post $13.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.67%. McKesson Corp.’s payout ratio is 11.64%.
MCK has been the topic of several research analyst reports. FBR & Co reaffirmed a “buy” rating on shares of McKesson Corp. in a research note on Saturday, June 4th. Mizuho reaffirmed a “neutral” rating and issued a $174.00 price objective (up from $164.00) on shares of McKesson Corp. in a research note on Tuesday, June 7th. Bank of America Corp. reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of McKesson Corp. in a research note on Tuesday, June 7th. Vetr lowered McKesson Corp. from a “buy” rating to a “hold” rating and set a $188.01 price objective on the stock. in a research note on Monday, June 13th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $220.00 price objective on shares of McKesson Corp. in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $201.17.
In other McKesson Corp. news, Chairman John H. Hammergren sold 100,500 shares of the firm’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 completion of the sale, the chairman now owns 100,500 shares in the company, valued at approximately $18,514,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James A. Beer sold 5,500 shares of the firm’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 value of $1,094,500.00. Following the completion of the sale, the chief financial officer now owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. The disclosure for this sale can be found here. Corporate 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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