OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in McKesson Corporation (NYSE:MCK) by 52.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,015 shares of the company’s stock after buying an additional 2,415 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in McKesson Corporation were worth $1,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after buying an additional 3,236,594 shares during the last quarter. Pzena Investment Management LLC boosted its stake in shares of McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock valued at $307,951,000 after buying an additional 1,890,815 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock valued at $259,883,000 after buying an additional 1,301,803 shares during the last quarter. Finally, Kiltearn Partners LLP acquired a new stake in shares of McKesson Corporation during the first quarter valued at approximately $115,469,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 149.99 on Friday. The firm has a market cap of $31.54 billion, a price-to-earnings ratio of 6.81 and a beta of 1.13. The stock’s 50 day moving average price is $162.85 and its 200-day moving average price is $151.95. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter last year, the firm posted $3.50 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts forecast that McKesson Corporation will post $12.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is 5.00%.
MCK has been the topic of several research analyst reports. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 target price on the stock. in a report on Wednesday, May 10th. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Two investment 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 an average rating of “Hold” and an average price target of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 809 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total value of $129,973.94. Following the sale, the senior vice president now owns 59 shares in the company, valued at approximately $9,478.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’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. Insiders sold a total of 60,231 shares of company stock worth $9,830,297 in the last quarter. Corporate insiders own 1.20% of the company’s stock.
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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