Aperio Group LLC Cuts Stake in McKesson Corporation (NYSE:MCK)

Aperio Group LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,108 shares of the company’s stock after selling 4,307 shares during the period. Aperio Group LLC’s holdings in McKesson Corporation were worth $17,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Cribstone Capital Management LLC increased its stake in shares of McKesson Corporation by 3.2% in the second quarter. Cribstone Capital Management LLC now owns 7,562 shares of the company’s stock worth $1,246,000 after buying an additional 232 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of McKesson Corporation by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock valued at $2,155,000 after buying an additional 100 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of McKesson Corporation by 3.6% in the second quarter. LS Investment Advisors LLC now owns 6,599 shares of the company’s stock valued at $1,086,000 after buying an additional 227 shares in the last quarter. P.R. Herzig & Co. Inc. increased its stake in shares of McKesson Corporation by 3.4% in the second quarter. P.R. Herzig & Co. Inc. now owns 1,500 shares of the company’s stock valued at $247,000 after buying an additional 50 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its stake in shares of McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

McKesson Corporation (NYSE:MCK) opened at 149.99 on Friday. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $197.08. The company has a market capitalization of $31.54 billion, a P/E ratio of 6.81 and a beta of 1.13. The company has a 50-day moving average of $162.85 and a 200-day moving average of $151.95.

McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. The firm 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%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.50 EPS. Equities analysts expect that McKesson Corporation will post $12.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a dividend of $0.34 per share. 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 boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.

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Several analysts have recently commented on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price target for the company. in a research note on Wednesday, May 10th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Wednesday, July 12th. Finally, Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. McKesson Corporation has a consensus rating of “Hold” and a consensus price target of $171.21.

In other news, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the transaction, the chairman now directly owns 19,309 shares in the company, valued at $3,162,041.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total transaction of $64,854.12. Following the transaction, 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 three months, insiders have sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by corporate 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.

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

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