Financial Partners Capital Management LLC Takes Position in McKesson Corporation (MCK)

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.

A number of equities analysts have recently weighed in on the company. UBS AG restated a “neutral” rating and issued a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Cowen and Company upgraded McKesson Corporation from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $176.00 to $189.00 in a research note on Tuesday. Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research note on Monday, July 17th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $175.00 to $178.00 in a research note on Tuesday, September 19th. Finally, Jefferies Group LLC set a $165.00 target price on McKesson Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. McKesson Corporation presently has an average rating of “Hold” and an average target price of $172.45.

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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.

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

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