Whittier Trust Co. of Nevada Inc. boosted its stake in McKesson Corp. (NYSE:MCK) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 38,233 shares of the company’s stock after buying an additional 343 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson Corp. were worth $7,136,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virginia Retirement System purchased a new position in shares of McKesson Corp. during the first quarter valued at about $587,000. Ngam Advisors L.P. boosted its position in shares of McKesson Corp. by 43.6% in the first quarter. Ngam Advisors L.P. now owns 34,891 shares of the company’s stock valued at $5,487,000 after buying an additional 10,590 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of McKesson Corp. by 9.0% in the first quarter. Stratos Wealth Partners LTD. now owns 1,727 shares of the company’s stock valued at $272,000 after buying an additional 142 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of McKesson Corp. by 5.9% in the first quarter. Franklin Resources Inc. now owns 1,095,920 shares of the company’s stock valued at $172,334,000 after buying an additional 61,297 shares in the last quarter. Finally, Howard Hughes Medical Institute boosted its position in shares of McKesson Corp. by 28.6% in the first quarter. Howard Hughes Medical Institute now owns 3,841 shares of the company’s stock valued at $604,000 after buying an additional 854 shares in the last quarter. Hedge funds and other institutional investors own 84.77% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 0.69% during trading on Thursday, hitting $164.52. The stock had a trading volume of 1,424,108 shares. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20. The stock’s 50-day moving average is $176.82 and its 200-day moving average is $179.20. The stock has a market capitalization of $37.13 billion, a PE ratio of 17.08 and a beta of 0.93.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $49.73 billion for 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 business’s revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s payout ratio is 11.64%.
Several research analysts have recently issued reports on MCK shares. Bank of America Corp. started coverage on shares of McKesson Corp. in a report on Wednesday, June 8th. They issued a “hold” rating on the stock. Vetr cut shares of McKesson Corp. from a “buy” rating to a “hold” rating and set a $188.01 target price on the stock. in a report on Monday, June 13th. FBR & Co restated a “buy” rating on shares of McKesson Corp. in a report on Wednesday, June 22nd. Robert W. Baird restated a “buy” rating and issued a $220.00 target price on shares of McKesson Corp. in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of McKesson Corp. in a report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $201.17.
In related news, Director Wayne A. Budd sold 2,309 shares of the company’s stock in a transaction on Monday, September 12th. The stock was 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 directly owns 723 shares in the company, valued at approximately $129,923.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $165.94, for a total value of $288,569.66. The disclosure for this sale can be found here. 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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