Quadrant Capital Group LLC raised its position in McKesson Corp. (NYSE:MCK) by 4.4% during the second quarter, Holdings Channel reports. The firm owned 1,716 shares of the company’s stock after buying an additional 73 shares during the period. Quadrant Capital Group LLC’s holdings in McKesson Corp. were worth $312,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Natixis acquired a new position in shares of McKesson Corp. during the first quarter worth about $26,933,000. Nisa Investment Advisors LLC raised its position in shares of 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 period. Orbis Allan Gray Ltd acquired a new position in shares of McKesson Corp. during the first quarter worth about $63,790,000. PGGM Investments raised its position in shares of 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 period. Finally, Legal & General Group Plc raised its position in shares of 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 period. Institutional investors and hedge funds own 84.77% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 0.56% during mid-day trading on Thursday, reaching $164.75. The company had a trading volume of 1,677,061 shares. The firm has a market capitalization of $37.18 billion, a P/E ratio of 17.11 and a beta of 0.93. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20. The stock’s 50-day moving average is $176.82 and its 200 day moving average is $179.20.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping 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 company earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. During the same quarter in the prior year, the business posted $3.14 earnings per share. The company’s revenue for the quarter 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 firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were paid 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 payout ratio is 11.64%.
MCK has been the topic of a number of research reports. Vetr upgraded shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Leerink Swann reiterated an “outperform” rating and issued a $230.00 price objective on shares of McKesson Corp. in a research report on Thursday, September 1st. Zacks Investment Research lowered shares of McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Mizuho lowered their price objective on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Finally, Bank of America Corp. initiated coverage on shares of McKesson Corp. in a research report on Wednesday, June 8th. They issued a “hold” rating on the stock. One 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’s stock. McKesson Corp. has an average rating of “Buy” and a consensus target price of $201.17.
In other news, CFO James A. Beer sold 5,500 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 12,412 shares of the company’s stock, valued at $2,469,988. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of the 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. 1.15% of the stock is owned by 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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