Affinity Investment Advisors LLC Grows Position in McKesson Corporation (MCK)

Affinity Investment Advisors LLC lifted its position in McKesson Corporation (NYSE:MCK) by 17.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,817 shares of the company’s stock after acquiring an additional 11,164 shares during the period. Affinity Investment Advisors LLC’s holdings in McKesson Corporation were worth $11,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP increased its position in shares of McKesson Corporation by 1.1% in the 3rd quarter. Artemis Investment Management LLP now owns 44,124 shares of the company’s stock valued at $6,779,000 after acquiring an additional 501 shares during the period. Tocqueville Asset Management L.P. increased its position in shares of McKesson Corporation by 607.9% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 37,829 shares of the company’s stock valued at $5,811,000 after acquiring an additional 32,485 shares during the period. ARP Americas LLC acquired a new position in shares of McKesson Corporation in the 3rd quarter valued at $354,000. Tavio Capital LLC acquired a new position in shares of McKesson Corporation in the 3rd quarter valued at $21,563,000. Finally, New York State Teachers Retirement System increased its position in shares of McKesson Corporation by 1.0% in the 3rd quarter. New York State Teachers Retirement System now owns 361,643 shares of the company’s stock valued at $55,552,000 after acquiring an additional 3,660 shares during the period. 85.29% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The company had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same quarter in the prior year, the firm earned $2.94 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.45%.

In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at approximately $25,543,650. The disclosure for this sale can be found here. Insiders sold 950,983 shares of company stock worth $145,560,946 in the last ninety days. Insiders own 1.20% of the company’s stock.

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Several research firms recently issued reports on MCK. Needham & Company LLC reissued a “buy” rating and issued a $173.00 target price (down from $178.00) on shares of McKesson Corporation in a research report on Wednesday. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the company from $175.00 to $178.00 in a research report on Tuesday, September 19th. 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 report on Monday, July 17th. Mizuho set a $168.00 target price on McKesson Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, Jefferies Group LLC set a $165.00 target price on McKesson Corporation and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $174.32.

McKesson Corporation 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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