Regal Investment Advisors LLC reduced its stake in McKesson Corporation (NYSE:MCK) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,428 shares of the company’s stock after selling 2,015 shares during the period. Regal Investment Advisors LLC’s holdings in McKesson Corporation were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in MCK. American Beacon Advisors Inc. purchased a new stake in shares of McKesson Corporation in the 1st quarter valued at approximately $100,000. Orrstown Financial Services Inc. lifted its position in shares of McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after acquiring an additional 43 shares in the last quarter. Archford Capital Strategies LLC lifted its position in shares of McKesson Corporation by 52.8% in the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after acquiring an additional 268 shares in the last quarter. Tompkins Financial Corp lifted its position in shares of McKesson Corporation by 2.3% in the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after acquiring an additional 18 shares in the last quarter. Finally, WFG Advisors LP lifted its position in shares of McKesson Corporation by 123.5% in the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after acquiring an additional 452 shares in the last quarter. 85.28% of the stock is owned by institutional investors and hedge funds.
In related news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,066 shares of company stock worth $473,627. 1.20% of the stock is owned by insiders.
McKesson Corporation (MCK) traded down 1.19% on Friday, reaching $149.88. 2,903,086 shares of the company traded hands. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29. The stock has a market capitalization of $31.51 billion, a PE ratio of 6.80 and a beta of 1.16. The firm has a 50 day moving average of $152.20 and a 200-day moving average of $153.01.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.50 earnings per share. On average, analysts anticipate that McKesson Corporation will post $12.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend 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 is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is presently 6.07%.
Several research analysts have weighed in on the stock. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price on the stock in a research note on Monday, June 19th. UBS AG reissued a “neutral” rating and issued a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a report on Thursday, July 27th. TheStreet raised shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research raised shares of McKesson Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $170.91.
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McKesson Corporation 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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