Hillsdale Investment Management Inc. Sells 205 Shares of McKesson Corporation (MCK)
Hillsdale Investment Management Inc. decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,645 shares of the company’s stock after selling 205 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in McKesson Corporation were worth $270,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in McKesson Corporation by 31.5% during the first quarter. UBS Asset Management Americas Inc. now owns 788,317 shares of the company’s stock valued at $116,876,000 after purchasing an additional 189,035 shares during the period. Pax World Management LLC lifted its stake in shares of McKesson Corporation by 6.4% in the 1st quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after purchasing an additional 100 shares during the last quarter. Peddock Capital Advisors LLC lifted its stake in shares of McKesson Corporation by 7.0% in the 1st quarter. Peddock Capital Advisors LLC now owns 9,876 shares of the company’s stock valued at $1,464,000 after purchasing an additional 644 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of McKesson Corporation by 21.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,730 shares of the company’s stock valued at $2,332,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of McKesson Corporation by 288.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock valued at $259,883,000 after purchasing an additional 1,301,803 shares during the last quarter. 85.19% of the stock is currently owned by institutional investors.
MCK has been the subject of a number of recent research reports. Royal Bank Of Canada initiated coverage on McKesson Corporation in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 target price for the company. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $175.00 to $178.00 in a report on Tuesday, September 19th. Morgan Stanley lowered McKesson Corporation from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $184.00 to $172.00 in a report on Thursday, September 14th. Needham & Company LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a research report on Friday, September 8th. Finally, Jefferies Group LLC set a $165.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $171.53.
In other McKesson Corporation news, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Insiders have sold 952,066 shares of company stock worth $145,736,987 over the last 90 days. 1.20% of the stock is owned by insiders.
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Shares of McKesson Corporation (NYSE MCK) opened at 155.26 on Tuesday. The company has a 50 day moving average price of $150.99 and a 200-day moving average price of $153.38. The stock has a market cap of $32.64 billion, a price-to-earnings ratio of 7.04 and a beta of 1.17. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its earnings results 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 company had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same period last year, the business earned $3.50 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. McKesson Corporation’s payout ratio is presently 6.07%.
About McKesson Corporation
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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