Catawba Capital Management VA boosted its position in shares of McKesson Corporation (NYSE:MCK) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,882 shares of the company’s stock after buying an additional 1,250 shares during the period. Catawba Capital Management VA’s holdings in McKesson Corporation were worth $4,752,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Palisade Asset Management LLC raised its position in McKesson Corporation by 0.7% in the first quarter. Palisade Asset Management LLC now owns 3,790 shares of the company’s stock worth $562,000 after buying an additional 25 shares during the last quarter. LBA Wealth Management LLC raised its position in McKesson Corporation by 0.4% in the first quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock worth $953,000 after buying an additional 25 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in McKesson Corporation by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,385 shares of the company’s stock worth $205,000 after buying an additional 45 shares during the last quarter. Norinchukin Bank The raised its position in McKesson Corporation by 0.5% in the first quarter. Norinchukin Bank The now owns 13,780 shares of the company’s stock worth $2,043,000 after buying an additional 64 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock worth $151,000 after buying an additional 78 shares during the last quarter. 86.58% of the stock is currently owned by institutional investors.
McKesson Corporation (NYSE MCK) opened at 146.00 on Friday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $194.66. The company’s 50-day moving average is $160.21 and its 200 day moving average is $152.14. The stock has a market cap of $30.70 billion, a PE ratio of 6.62 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last issued its quarterly 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 the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share. On average, analysts expect that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The business also recently declared 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 is Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
A number of research firms recently issued reports on MCK. UBS AG raised their price objective on shares of McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. TheStreet upgraded shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Barclays PLC set a $187.00 price objective on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. 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. Finally, Morgan Stanley raised their price objective on shares of McKesson Corporation from $165.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, May 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $171.21.
In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares in the company, valued at $321,541.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was 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. Over the last 90 days, insiders sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by corporate insiders.
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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