Kalos Management Inc. maintained its position in shares of McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent filing with the SEC. The firm owned 13,816 shares of the company’s stock at the end of the second quarter. McKesson Corp. accounts for approximately 2.0% of Kalos Management Inc.’s investment portfolio, making the stock its 8th largest position. Kalos Management Inc.’s holdings in McKesson Corp. were worth $2,579,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Seven Eight Capital LLC acquired a new position in shares of McKesson Corp. during the first quarter valued at approximately $110,000. Kelman Lazarov Inc. purchased a new stake in McKesson Corp. during the second quarter valued at about $115,000. Welch Group LLC purchased a new stake in McKesson Corp. during the second quarter valued at about $126,000. Winslow Evans & Crocker Inc. increased its stake in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares in the last quarter. Finally, Community Bank & Trust Waco Texas purchased a new stake in McKesson Corp. during the second quarter valued at about $202,000. Institutional investors own 84.75% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 0.26% during midday trading on Wednesday, reaching $161.68. 526,227 shares of the company’s stock traded hands. The stock has a 50-day moving average of $169.92 and a 200 day moving average of $179.59. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20. The company has a market cap of $36.49 billion, a P/E ratio of 16.79 and a beta of 0.93.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, topping the Zacks’ consensus estimate of $3.33 by $0.17. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The firm earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. During the same period in the previous 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 anticipate that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
Several analysts recently issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of McKesson Corp. in a report on Monday, July 18th. Morgan Stanley upped their price objective on shares of McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Citigroup Inc. upped their price objective on shares of McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Mizuho upped their price objective on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of McKesson Corp. from $210.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $201.17.
In other news, SVP Erin M. Lampert sold 1,739 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $165.94, for a total value of $288,569.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 915 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $193.78, for a total transaction of $177,308.70. The disclosure for this sale can be found here. Company 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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