BTR Capital Management Inc. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,930 shares of the company’s stock after buying an additional 80 shares during the period. BTR Capital Management Inc.’s holdings in McKesson Corporation were worth $318,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in MCK. American Beacon Advisors Inc. bought a new stake in shares of McKesson Corporation during the first quarter worth about $100,000. Orrstown Financial Services Inc. raised its stake in shares of McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the period. Archford Capital Strategies LLC raised its stake in shares of McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares during the period. Tompkins Financial Corp raised its stake in shares of McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after buying an additional 18 shares during the period. Finally, WFG Advisors LP raised its stake in shares of McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 86.58% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) opened at 146.00 on Friday. The company has a market cap of $30.70 billion, a P/E ratio of 6.62 and a beta of 1.13. The stock’s 50 day moving average price is $160.21 and its 200 day moving average price is $152.14. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $194.66.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 EPS. Equities research analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a $0.34 dividend. 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 0.93%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 5.00%.
A number of equities research analysts have recently issued reports on MCK shares. BidaskClub lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Wednesday, July 12th. Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research report on Thursday, May 25th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a research report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 price target on McKesson Corporation and gave the company a “hold” rating in a research report on Friday, May 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $171.21.
In related news, Chairman John H. Hammergren sold 19,316 shares of McKesson Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total value of $3,135,179.96. Following the sale, the chairman now owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation 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. In the last ninety days, insiders sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by company insiders.
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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