Altavista Wealth Management Inc. increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,007 shares of the company’s stock after purchasing an additional 187 shares during the period. McKesson Corporation accounts for about 1.6% of Altavista Wealth Management Inc.’s holdings, making the stock its 25th biggest holding. Altavista Wealth Management Inc.’s holdings in McKesson Corporation were worth $3,127,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC boosted its position in McKesson Corporation by 64.2% during the 2nd quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after purchasing an additional 190 shares during the period. Captrust Financial Advisors acquired a new position in McKesson Corporation in the 2nd quarter worth $107,000. American Beacon Advisors Inc. acquired a new position in McKesson Corporation in the 1st quarter worth $100,000. Orrstown Financial Services Inc. lifted its holdings in McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after buying an additional 43 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in McKesson Corporation in the 2nd quarter worth $125,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on MCK. UBS AG reiterated a “neutral” rating and issued a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Vetr lowered shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective on the stock. in a report on Monday, July 17th. Leerink Swann boosted their price objective on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective on the stock in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $172.45.
McKesson Corporation (NYSE:MCK) traded up 0.89% during midday trading on Thursday, reaching $151.27. 357,203 shares of the company traded hands. The firm has a market capitalization of $31.81 billion, a price-to-earnings ratio of 6.86 and a beta of 1.17. The firm’s 50 day moving average price is $151.76 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 released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). The business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 earnings per share. On average, analysts expect that McKesson Corporation will post $12.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
In related news, CEO John H. Hammergren sold 100,000 shares of McKesson Corporation stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the completion of the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,329,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders have sold a total of 952,066 shares of company stock valued at $145,736,987 over the last ninety days. 1.20% of the stock is 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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