Liberty Capital Management Inc. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,744 shares of the company’s stock after buying an additional 34 shares during the period. Liberty Capital Management Inc.’s holdings in McKesson Corporation were worth $1,610,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. increased its stake in shares of McKesson Corporation by 1,314.9% in the second quarter. Meeder Asset Management Inc. now owns 15,069 shares of the company’s stock valued at $2,479,000 after buying an additional 14,004 shares during the last quarter. National Pension Service increased its stake in shares of McKesson Corporation by 11.2% in the second quarter. National Pension Service now owns 190,344 shares of the company’s stock valued at $31,148,000 after buying an additional 19,146 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of McKesson Corporation by 20.5% in the second quarter. NEXT Financial Group Inc now owns 3,875 shares of the company’s stock valued at $638,000 after buying an additional 658 shares during the last quarter. Trust Department MB Financial Bank N A boosted its position in McKesson Corporation by 2.3% in the second quarter. Trust Department MB Financial Bank N A now owns 55,840 shares of the company’s stock valued at $9,188,000 after buying an additional 1,239 shares during the period. Finally, Acropolis Investment Management LLC purchased a new position in McKesson Corporation during the second quarter valued at approximately $478,000. Hedge funds and other institutional investors own 86.58% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 146.00 on Friday. The stock has a 50 day moving average price of $160.21 and a 200 day moving average price of $152.14. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $194.66. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of 6.62 and a beta of 1.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.34 dividend. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. McKesson Corporation’s payout ratio is currently 5.00%.
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Several equities analysts have commented on MCK shares. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Wednesday, July 12th. Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a report on Thursday, May 25th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 price target on McKesson Corporation and gave the company a “hold” rating in a report on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the 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 business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total value of $64,854.12. Following the sale, the senior vice president now owns 2,003 shares of the company’s stock, valued at $321,541.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Erin M. Lampert sold 809 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total transaction of $129,973.94. Following the completion of the sale, the senior vice president now directly owns 59 shares in the company, valued at approximately $9,478.94. The disclosure for this sale can be found here. In the last three months, insiders sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is currently owned by 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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