National Asset Management Inc. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 10.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,506 shares of the company’s stock after purchasing an additional 865 shares during the period. National Asset Management Inc.’s holdings in McKesson Corporation were worth $1,565,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC boosted its position in McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after purchasing an additional 190 shares during the last quarter. Captrust Financial Advisors acquired a new stake in McKesson Corporation during the second quarter valued at $107,000. American Beacon Advisors Inc. acquired a new stake in McKesson Corporation during the first quarter valued at $100,000. Orrstown Financial Services Inc. boosted its position in McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in McKesson Corporation during the second quarter valued at $125,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
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In other news, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of McKesson Corporation stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the transaction, the chief executive officer now owns 165,000 shares in the company, valued at approximately $25,391,850. The disclosure for this sale can be found here. Insiders sold 952,066 shares of company stock worth $145,736,987 over the last three months. 1.20% of the stock is currently owned by insiders.
A number of analysts recently issued reports on the company. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective for the company in a research report on Monday, June 19th. Royal Bank Of Canada assumed coverage on McKesson Corporation in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price objective for the company. Cowen and Company raised McKesson Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $176.00 to $189.00 in a research report on Tuesday. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a research report on Thursday, July 27th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $172.45.
McKesson Corporation (MCK) traded up 0.69% during trading on Thursday, hitting $150.98. The stock had a trading volume of 493,835 shares. The company has a market capitalization of $31.75 billion, a price-to-earnings ratio of 6.85 and a beta of 1.17. The stock has a 50 day moving average price of $151.76 and a 200 day moving average price of $153.58. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same period in the prior year, the business posted $3.50 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post $12.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is 6.07%.
About McKesson Corporation
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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