7,884 Shares in McKesson Corporation (NYSE:MCK) Acquired by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE acquired a new position in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,884 shares of the company’s stock, valued at approximately $1,297,000.

Several other hedge funds also recently bought and sold shares of MCK. West Oak Capital LLC raised its position in McKesson Corporation by 6.7% in the first quarter. West Oak Capital LLC now owns 1,707 shares of the company’s stock valued at $253,000 after buying an additional 107 shares during the period. Fulton Bank N.A. purchased a new position in shares of McKesson Corporation during the first quarter valued at about $248,000. McQueen Ball & Associates Inc. purchased a new position in shares of McKesson Corporation during the first quarter valued at about $1,782,000. Beacon Financial Group raised its position in shares of McKesson Corporation by 12.6% in the first quarter. Beacon Financial Group now owns 8,208 shares of the company’s stock valued at $1,226,000 after buying an additional 917 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of McKesson Corporation by 1.9% in the fourth quarter. Macquarie Group Ltd. now owns 49,668 shares of the company’s stock valued at $6,976,000 after buying an additional 917 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Shares of McKesson Corporation (NYSE:MCK) opened at 149.99 on Friday. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08. The stock has a 50 day moving average of $162.85 and a 200 day moving average of $151.95. The company has a market cap of $31.54 billion, a P/E ratio of 6.81 and a beta of 1.13.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same period in the previous year, the business earned $3.50 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid 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 yield of 0.91%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is presently 5.00%.

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MCK has been the subject of a number of recent analyst reports. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 price objective for the company in a research report on Tuesday, April 18th. Evercore ISI reaffirmed an “outperform” rating and issued a $166.00 target price on shares of McKesson Corporation in a report on Monday, April 17th. Barclays PLC reissued an “overweight” rating and set a $174.00 price objective on shares of McKesson Corporation in a research note on Thursday, April 27th. Leerink Swann set a $140.00 price objective on shares of McKesson Corporation and gave the stock a “hold” rating in a research note on Friday, May 19th. Finally, JPMorgan Chase & Co. raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. McKesson Corporation has a consensus rating of “Hold” and an average target price of $171.21.

In other news, SVP Erin M. Lampert sold 809 shares of McKesson Corporation stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $160.66, for a total value of $129,973.94. Following the sale, the senior vice president now directly owns 59 shares in the company, valued at $9,478.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the completion of the sale, the senior vice president now owns 2,003 shares in the company, valued at $321,541.59. 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. 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.

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

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