AXA boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,964 shares of the company’s stock after purchasing an additional 2,500 shares during the period. AXA owned about 0.06% of McKesson Corporation worth $19,739,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN increased its holdings in shares of McKesson Corporation by 12.7% in the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after purchasing an additional 239,358 shares during the last quarter. Loews Corp bought a new stake in shares of McKesson Corporation in the first quarter worth about $253,000. HealthInvest Partners AB increased its holdings in shares of McKesson Corporation by 23.7% in the second quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock worth $10,382,000 after purchasing an additional 12,100 shares during the last quarter. ProVise Management Group LLC increased its holdings in shares of McKesson Corporation by 495.7% in the second quarter. ProVise Management Group LLC now owns 25,525 shares of the company’s stock worth $4,200,000 after purchasing an additional 21,240 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in shares of McKesson Corporation by 6.1% in the second quarter. GHP Investment Advisors Inc. now owns 11,201 shares of the company’s stock worth $1,843,000 after purchasing an additional 642 shares during the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.
In related news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Insiders sold a total of 3,066 shares of company stock worth $473,627 in the last 90 days. 1.20% of the stock is owned by corporate insiders.
Several brokerages have weighed in on MCK. UBS AG reaffirmed a “neutral” rating and set a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Morgan Stanley boosted their price target on McKesson Corporation from $165.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, May 25th. Finally, Vetr upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $170.91.
Shares of McKesson Corporation (NYSE MCK) traded down 1.19% during midday trading on Friday, reaching $149.88. The company’s stock had a trading volume of 2,903,086 shares. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 6.80 and a beta of 1.16. The company has a 50 day moving average of $152.20 and a 200-day moving average of $153.01.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). The business 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%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $3.50 EPS. Equities research analysts predict that McKesson Corporation will post $12.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 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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