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.

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

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