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.
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