McKesson Corp. (MCK) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in shares of McKesson Corp. (NYSE:MCK) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 555,310 shares of the company’s stock after buying an additional 25,903 shares during the period. Dimensional Fund Advisors LP owned 0.25% of McKesson Corp. worth $103,638,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MCK. Seven Eight Capital LLC purchased a new position in shares of McKesson Corp. during the first quarter valued at $110,000. Kelman Lazarov Inc. purchased a new position in shares of McKesson Corp. during the second quarter valued at $115,000. Baker Ellis Asset Management LLC raised its position in shares of McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock valued at $116,000 after buying an additional 100 shares during the period. Welch Group LLC purchased a new position in shares of McKesson Corp. during the second quarter valued at $126,000. Finally, Winslow Evans & Crocker Inc. raised its position in shares of McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares during the period. 84.80% of the stock is owned by institutional investors.
McKesson Corp. (NYSE:MCK) traded up 0.20% on Tuesday, hitting $165.33. The stock had a trading volume of 1,111,721 shares. The firm has a market cap of $37.32 billion, a price-to-earnings ratio of 17.17 and a beta of 0.95. The company’s 50 day moving average price is $186.75 and its 200 day moving average price is $178.83. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.33 by $0.17. The firm earned $49.73 billion during the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. McKesson Corp.’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.14 EPS. Analysts expect that McKesson Corp. will post $13.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
MCK has been the subject of several research reports. Vetr raised McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday. Leerink Swann reissued an “outperform” rating and set a $230.00 price objective on shares of McKesson Corp. in a report on Thursday, September 1st. Raymond James Financial Inc. lowered McKesson Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. Bank of America Corp. initiated coverage on McKesson Corp. in a report on Wednesday, June 8th. They set a “hold” rating for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. McKesson Corp. presently has a consensus rating of “Buy” and an average target price of $201.95.
In related news, CFO James A. Beer sold 5,500 shares of the company’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $199.00, for a total value of $1,094,500.00. Following the completion of the transaction, the chief financial officer now owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John H. Hammergren sold 100,500 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at approximately $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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