Great West Life Assurance Co. Can Has $50.48 Million Stake in McKesson Corporation (NYSE:MCK)
Great West Life Assurance Co. Can reduced its position in McKesson Corporation (NYSE:MCK) by 9.9% during the second quarter, Holdings Channel reports. The firm owned 307,258 shares of the company’s stock after selling 33,722 shares during the period. Great West Life Assurance Co. Can’s holdings in McKesson Corporation were worth $50,482,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of McKesson Corporation by 18.7% in the second quarter. Janney Montgomery Scott LLC now owns 33,062 shares of the company’s stock worth $5,440,000 after buying an additional 5,216 shares during the period. Harbour Capital Advisors LLC boosted its position in shares of McKesson Corporation by 15,915.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after buying an additional 1,013,942 shares during the period. IBM Retirement Fund boosted its position in shares of McKesson Corporation by 120.1% in the second quarter. IBM Retirement Fund now owns 5,200 shares of the company’s stock worth $956,000 after buying an additional 2,837 shares during the period. NGAM Advisors L.P. boosted its position in shares of McKesson Corporation by 40.3% in the second quarter. NGAM Advisors L.P. now owns 77,381 shares of the company’s stock worth $12,732,000 after buying an additional 22,240 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in shares of McKesson Corporation by 4.9% in the second quarter. Sumitomo Life Insurance Co. now owns 3,279 shares of the company’s stock worth $540,000 after buying an additional 153 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of McKesson Corporation (MCK) opened at 149.99 on Friday. The stock has a market capitalization of $31.54 billion, a PE ratio of 6.81 and a beta of 1.13. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08. The company has a 50-day moving average price of $162.85 and a 200 day moving average price of $151.95.
McKesson Corporation (NYSE:MCK) last released 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. The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 earnings per share. Equities analysts forecast that McKesson Corporation will post $12.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued 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 0.91%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
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Several equities analysts have recently issued reports on the company. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research note on Thursday, July 27th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research note on Monday, July 17th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Wednesday, July 12th. Finally, Leerink Swann boosted their target price on McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $171.21.
In other news, SVP Erin M. Lampert sold 809 shares of McKesson Corporation stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total value of $129,973.94. Following the transaction, the senior vice president now directly owns 59 shares in the company, valued at approximately $9,478.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the transaction, the senior vice president now owns 2,003 shares in the company, valued at $321,541.59. The disclosure for this sale can be found here. Insiders have sold a total of 60,231 shares of company stock worth $9,830,297 over the last 90 days. 1.20% of the stock is currently owned by company insiders.
McKesson Corporation Company 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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