First Heartland Consultants Inc. acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The firm acquired 1,676 shares of the company’s stock, valued at approximately $276,000.
Other hedge funds have also recently bought and sold shares of the company. Argyle Capital Management Inc. raised its stake in McKesson Corporation by 3.8% in the second quarter. Argyle Capital Management Inc. now owns 16,600 shares of the company’s stock worth $2,731,000 after buying an additional 600 shares in the last quarter. Boston Advisors LLC raised its stake in McKesson Corporation by 3.3% in the second quarter. Boston Advisors LLC now owns 10,030 shares of the company’s stock worth $1,650,000 after buying an additional 320 shares in the last quarter. Affinity Investment Advisors LLC purchased a new stake in McKesson Corporation during the second quarter worth about $10,309,000. ING Groep NV raised its stake in McKesson Corporation by 359.5% in the second quarter. ING Groep NV now owns 76,639 shares of the company’s stock worth $12,610,000 after buying an additional 59,961 shares in the last quarter. Finally, Clarkston Capital Partners LLC raised its stake in McKesson Corporation by 21.7% in the second quarter. Clarkston Capital Partners LLC now owns 47,100 shares of the company’s stock worth $7,750,000 after buying an additional 8,400 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) opened at 154.27 on Thursday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08. The company has a market capitalization of $32.44 billion, a PE ratio of 7.00 and a beta of 1.13. The company’s 50 day moving average is $163.64 and its 200-day moving average is $151.95.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by $0.35. The firm had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.50 EPS. On average, analysts expect that McKesson Corporation will post $12.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a $0.34 dividend. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
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A number of research firms have recently issued reports on MCK. BidaskClub lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a research note on Thursday, July 27th. Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target for the company. in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Wednesday, July 12th. Finally, Leerink Swann lifted their price target on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $171.21.
In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the transaction, the senior vice president now owns 2,003 shares in the company, valued at $321,541.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by company insiders.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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