Financial Partners Capital Management LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,645 shares of the company’s stock, valued at approximately $2,903,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of McKesson Corporation by 2,026.2% in the 1st quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of McKesson Corporation in the 1st quarter worth approximately $191,000. Harbour Capital Advisors LLC boosted its stake in shares of McKesson Corporation by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after buying an additional 1,013,942 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of McKesson Corporation in the 2nd quarter worth approximately $164,688,000. Finally, Kiltearn Partners LLP purchased a new position in shares of McKesson Corporation in the 1st quarter worth approximately $115,469,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The disclosure for this sale can be found here. In the last ninety days, insiders sold 952,066 shares of company stock valued at $145,736,987. 1.20% of the stock is currently owned by insiders.
McKesson Corporation (NYSE MCK) traded up 0.77% during trading on Tuesday, reaching $149.28. The company had a trading volume of 641,019 shares. The firm has a market capitalization of $31.39 billion, a PE ratio of 6.77 and a beta of 1.17. The firm’s 50 day moving average price is $151.62 and its 200 day moving average price is $153.58. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29.
McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same period last year, the firm posted $3.50 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that McKesson Corporation will post $12.08 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is 6.07%.
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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