Stevens Capital Management LP Purchases Shares of 55,936 McKesson Corporation (MCK)

Stevens Capital Management LP purchased a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 55,936 shares of the company’s stock, valued at approximately $9,204,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Family Firm Inc. raised its stake in shares of McKesson Corporation by 0.3% in the 2nd quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock valued at $316,000 after acquiring an additional 5 shares during the period. Tompkins Financial Corp raised its stake 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 during the period. First Financial Bank Trust Division raised its stake in shares of McKesson Corporation by 1.3% in the 2nd quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock valued at $298,000 after acquiring an additional 23 shares during the period. LBA Wealth Management LLC raised its stake in shares of McKesson Corporation by 0.4% in the 1st quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock valued at $953,000 after acquiring an additional 25 shares during the period. Finally, SOL Capital Management CO raised its stake in shares of McKesson Corporation by 0.9% in the 2nd quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock valued at $585,000 after acquiring an additional 30 shares during the period. 85.28% of the stock is currently owned by institutional investors and hedge funds.

MCK has been the subject of a number of research reports. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Wednesday, July 12th. Vetr upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price objective for the company in a report on Thursday, May 25th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a report on Tuesday, May 23rd. Finally, TheStreet cut shares of McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $170.91.

In other news, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction that occurred on 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 have sold 3,066 shares of company stock valued at $473,627 in the last three months. Corporate insiders own 1.20% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.truebluetribune.com/2017/09/17/stevens-capital-management-lp-purchases-shares-of-55936-mckesson-corporation-mck.html.

Shares of McKesson Corporation (NYSE:MCK) traded down 1.19% on Friday, hitting $149.88. 2,903,086 shares of the stock traded hands. The firm has a market cap of $31.51 billion, a P/E ratio of 6.80 and a beta of 1.16. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29. The firm’s 50-day moving average is $152.20 and its 200 day moving average is $153.01.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same period in the previous year, the business posted $3.50 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post $12.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK).

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

Receive News & Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply