MPS Loria Financial Planners LLC purchased a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,730 shares of the company’s stock, valued at approximately $408,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in McKesson Corporation by 0.9% in the 1st quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock valued at $3,370,074,000 after acquiring an additional 192,254 shares in the last quarter. BlackRock Inc. raised its holdings in McKesson Corporation by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after acquiring an additional 1,131,024 shares in the last quarter. Vanguard Group Inc. raised its holdings in McKesson Corporation by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock valued at $2,318,457,000 after acquiring an additional 62,004 shares in the last quarter. Ballentine Partners LLC acquired a new position in McKesson Corporation in the 1st quarter valued at approximately $191,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in McKesson Corporation by 3.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock valued at $730,560,000 after acquiring an additional 180,107 shares in the last quarter. 85.16% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on MCK shares. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Thursday, July 27th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target for the company. in a report on Monday, July 17th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Wednesday, July 12th. Needham & Company LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a report on Friday, September 8th. Finally, TheStreet cut McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $172.45.

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In other McKesson Corporation news, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 952,066 shares of company stock valued at $145,736,987. Company insiders own 1.20% of the company’s stock.

McKesson Corporation (NYSE:MCK) traded down 0.21% during midday trading on Tuesday, reaching $146.30. The company had a trading volume of 469,391 shares. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29. The stock’s 50 day moving average is $152.00 and its 200 day moving average is $153.59. The company has a market capitalization of $30.76 billion, a PE ratio of 6.64 and a beta of 1.17.

McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that McKesson Corporation will post $12.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, August 30th. McKesson Corporation’s payout ratio is currently 6.07%.

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.

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

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