Balentine LLC Continues to Hold Position in McKesson Corporation (MCK)
Balentine LLC held its position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,131 shares of the company’s stock at the close of the 2nd quarter. Balentine LLC’s holdings in McKesson Corporation were worth $186,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in McKesson Corporation by 12.7% during the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after purchasing an additional 239,358 shares in the last quarter. Loews Corp acquired a new stake in McKesson Corporation during the 1st quarter worth approximately $253,000. Dai Ichi Life Insurance Company Ltd increased its position in McKesson Corporation by 194.3% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock worth $4,848,000 after purchasing an additional 19,450 shares in the last quarter. Pictet & Cie Europe SA increased its position in McKesson Corporation by 30.0% during the 2nd quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock worth $1,076,000 after purchasing an additional 1,510 shares in the last quarter. Finally, HealthInvest Partners AB increased its position in McKesson Corporation by 23.7% during the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock worth $10,382,000 after purchasing an additional 12,100 shares in the last quarter. 85.19% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on MCK. UBS AG reissued a “neutral” rating and set a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Cowen and Company upgraded McKesson Corporation from a “market perform” rating to an “outperform” rating in a report on Tuesday. Jefferies Group LLC upgraded 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. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $171.53.
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McKesson Corporation (MCK) traded up 0.73% during trading on Tuesday, hitting $149.22. The stock had a trading volume of 342,987 shares. The company’s 50-day moving average is $151.62 and its 200 day moving average is $153.58. The firm has a market cap of $31.37 billion, a PE ratio of 6.77 and a beta of 1.17. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same period in the previous year, the business posted $3.50 EPS. McKesson Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts expect that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
In other news, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total transaction of $157,500.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value 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 worth $145,736,987 in the last three months. 1.20% of the stock is owned by insiders.
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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