Harbour Capital Advisors LLC boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,371 shares of the company’s stock after buying an additional 10 shares during the period. Harbour Capital Advisors LLC’s holdings in McKesson Corporation were worth $945,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. increased its stake in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the period. WFG Advisors LP increased its stake in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares during the period. Welch Group LLC increased its stake in McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock valued at $141,000 after buying an additional 175 shares during the period. Tompkins Financial Corp increased its stake in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock valued at $151,000 after buying an additional 78 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in McKesson Corporation by 327.7% in the first quarter. Meeder Asset Management Inc. now owns 1,065 shares of the company’s stock valued at $158,000 after buying an additional 816 shares during the period. Institutional investors and hedge funds own 86.58% of the company’s stock.
Shares of McKesson Corporation (NYSE MCK) traded down 0.57% during trading on Friday, reaching $146.00. The company’s stock had a trading volume of 1,980,288 shares. The stock 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 is $160.21 and its 200-day moving average is $152.14. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $194.66.
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 the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
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Several analysts recently issued reports on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price objective for the company. in a report on Wednesday, May 10th. Barclays PLC set a $187.00 price objective on McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research raised 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. Finally, Jefferies Group LLC raised 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $171.21.
In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the sale, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at $321,541.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated 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. Insiders have sold 60,231 shares of company stock worth $9,830,297 in the last 90 days. Company insiders own 1.20% of the company’s stock.
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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