North Star Asset Management Inc. held its stake in shares of McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,970 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in McKesson Corp. were worth $939,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of MCK. Wellington Management Group LLP boosted its stake 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 last quarter. Geode Capital Management LLC boosted its stake in shares of McKesson Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,897,745 shares of the company’s stock valued at $297,829,000 after buying an additional 29,337 shares during the last quarter. Scharf Investments LLC boosted its stake 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 last quarter. Legal & General Group Plc boosted its stake 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 valued at $176,779,000 after buying an additional 30,231 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in shares of McKesson Corp. by 18.8% in the first quarter. Southpoint Capital Advisors LP now owns 1,069,642 shares of the company’s stock valued at $168,201,000 after buying an additional 169,642 shares during the last quarter. 84.77% of the stock is currently owned by institutional investors.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.70% during mid-day trading on Tuesday, reaching $164.18. The company’s stock had a trading volume of 1,176,680 shares. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The firm has a market cap of $37.06 billion, a P/E ratio of 17.05 and a beta of 0.93. The firm’s 50-day moving average price is $174.30 and its 200 day moving average price is $179.56.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share 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 firm had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $50.32 billion. During the same period in the previous year, the business earned $3.14 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that McKesson Corp. will post $13.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 1st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.68%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
Several equities research analysts have commented on the company. Zacks Investment Research downgraded McKesson Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Goldman Sachs Group Inc. downgraded McKesson Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $210.00 to $189.00 in a report on Friday, September 16th. Morgan Stanley boosted their target price on McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of McKesson Corp. in a report on Thursday, June 30th. Finally, Mizuho dropped their target price on McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $201.17.
In other McKesson Corp. news, SVP Erin M. Lampert sold 1,739 shares of McKesson Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $165.94, for a total transaction of $288,569.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James A. Beer sold 5,500 shares of McKesson Corp. stock in a transaction dated 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 sale, the chief financial officer now directly 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.
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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