FTB Advisors Inc. Has $5.67 Million Holdings in McKesson Corporation (MCK)
FTB Advisors Inc. raised its position in shares of McKesson Corporation (NYSE:MCK) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,823 shares of the company’s stock after purchasing an additional 3,402 shares during the quarter. FTB Advisors Inc.’s holdings in McKesson Corporation were worth $5,666,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in McKesson Corporation during the second quarter valued at approximately $107,000. American Beacon Advisors Inc. purchased a new position in McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. lifted its holdings in McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in McKesson Corporation during the second quarter valued at approximately $125,000. Finally, Archford Capital Strategies LLC lifted its holdings in McKesson Corporation by 52.8% during the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares in the last quarter. 85.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corporation (NYSE MCK) traded down 0.1627% during midday trading on Thursday, reaching $153.3601. 308,515 shares of the company traded hands. The stock has a 50 day moving average price of $151.26 and a 200 day moving average price of $153.43. The firm has a market capitalization of $32.25 billion, a PE ratio of 6.9579 and a beta of 1.17. McKesson Corporation has a 1-year low of $114.53 and a 1-year 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 analysts’ consensus estimates of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.50 EPS. Analysts expect that McKesson Corporation will post $12.08 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 issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. 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 McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total value of $15,353,000.00. The disclosure for this sale can be found here. Insiders sold a total of 952,066 shares of company stock worth $145,736,987 in the last 90 days. 1.20% of the stock is currently owned by insiders.
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Several equities analysts have weighed in on the stock. UBS AG reaffirmed a “neutral” rating and set a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Finally, Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $171.53.
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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