Accident Compensation Corp Has $630,000 Holdings in McKesson Corporation (MCK)

Accident Compensation Corp trimmed its stake in McKesson Corporation (NYSE:MCK) by 10.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,100 shares of the company’s stock after selling 500 shares during the quarter. Accident Compensation Corp’s holdings in McKesson were worth $630,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of McKesson by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after acquiring an additional 1,131,024 shares during the period. Vanguard Group Inc. boosted its stake in shares of McKesson by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after acquiring an additional 62,004 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of McKesson by 6.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after acquiring an additional 154,967 shares during the period. Pzena Investment Management LLC boosted its stake in shares of McKesson by 17.2% during the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after acquiring an additional 360,676 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of McKesson by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after acquiring an additional 239,358 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.

Shares of McKesson Corporation (NYSE MCK) traded down $0.22 during midday trading on Thursday, reaching $150.47. The company’s stock had a trading volume of 1,262,800 shares, compared to its average volume of 1,881,763. The firm has a market cap of $31,415.02, a PE ratio of 12.39, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Corporation has a 52-week low of $133.82 and a 52-week high of $169.29.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.94 EPS. equities research analysts expect that McKesson Corporation will post 12.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.90%. McKesson’s dividend payout ratio is presently 6.45%.

In other McKesson news, CEO John H. Hammergren sold 125,000 shares of McKesson stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction on Monday, September 25th. The shares were sold at an average price of $154.15, for a total value of $15,415,000.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at $25,434,750. The disclosure for this sale can be found here. Insiders sold a total of 949,000 shares of company stock valued at $145,263,360 over the last ninety days. Insiders own 1.20% of the company’s stock.

Several brokerages have recently commented on MCK. Royal Bank Of Canada began coverage on McKesson in a research note on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price for the company. Jefferies Group set a $165.00 target price on McKesson and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Cowen upgraded McKesson from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $176.00 to $189.00 in a research note on Tuesday, October 10th. Needham & Company LLC set a $179.00 target price on McKesson and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, BidaskClub downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. McKesson currently has an average rating of “Buy” and a consensus price target of $174.31.

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McKesson 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.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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