Henderson Group PLC cut its stake in shares of McKesson Corporation (NYSE:MCK) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,792 shares of the company’s stock after selling 8,117 shares during the period. Henderson Group PLC owned approximately 0.06% of McKesson Corporation worth $19,093,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Orrstown Financial Services Inc. raised its position in shares of McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. SRB Corp raised its stake in McKesson Corporation by 3.4% in the third quarter. SRB Corp now owns 814 shares of the company’s stock valued at $136,000 after buying an additional 27 shares during the period. Welch Group LLC raised its stake in McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock valued at $141,000 after buying an additional 175 shares during the period. Tompkins Financial Corp raised its stake in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock valued at $151,000 after buying an additional 78 shares during the period. Finally, Independent Advisor Alliance purchased a new stake in McKesson Corporation during the fourth quarter valued at $161,000. Institutional investors and hedge funds own 89.85% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 159.83 on Friday. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 7.03 and a beta of 1.15. McKesson Corporation has a one year low of $114.53 and a one year high of $199.43. The company’s 50 day moving average is $153.24 and its 200 day moving average is $146.90.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 18th. The company reported $3.39 EPS for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.35. McKesson Corporation had a return on equity of 29.99% and a net margin of 2.55%. The company had revenue of $48.71 billion for the quarter, compared to analysts’ expectations of $49.48 billion. During the same period in the previous year, the firm earned $2.44 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that McKesson Corporation will post $12.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 5th will be issued a $0.28 dividend. The ex-dividend date is Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. McKesson Corporation’s dividend payout ratio is presently 4.80%.
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Several brokerages have recently issued reports on MCK. Jefferies Group LLC began coverage on shares of McKesson Corporation in a research report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price objective for the company. Credit Suisse Group reaffirmed a “sell” rating on shares of McKesson Corporation in a research report on Friday, March 3rd. Evercore ISI reaffirmed an “outperform” rating and issued a $166.00 target price on shares of McKesson Corporation in a research report on Monday, April 17th. TheStreet raised shares of McKesson Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. Finally, Needham & Company LLC assumed coverage on shares of McKesson Corporation in a research report on Tuesday, April 4th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $170.89.
In related news, Chairman John H. Hammergren sold 19,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total value of $3,135,179.96. Following the transaction, the chairman now directly owns 96,644 shares of the company’s stock, valued at approximately $15,686,287.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 38,619 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total value of $6,324,247.44. Following the sale, the chairman now directly owns 19,309 shares in the company, valued at $3,162,041.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 159,648 shares of company stock worth $24,773,475. 1.15% of the stock is owned by 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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