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.
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.
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