K.J. Harrison & Partners Inc Has $1.15 Million Stake in McKesson Corporation (MCK)
K.J. Harrison & Partners Inc reduced its position in McKesson Corporation (NYSE:MCK) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,000 shares of the company’s stock after selling 300 shares during the period. K.J. Harrison & Partners Inc’s holdings in McKesson Corporation were worth $1,152,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of MCK. Ingalls & Snyder LLC boosted its stake in shares of McKesson Corporation by 1.3% in the second quarter. Ingalls & Snyder LLC now owns 9,587 shares of the company’s stock worth $1,577,000 after buying an additional 125 shares during the last quarter. Busey Trust CO boosted its stake in shares of McKesson Corporation by 1.7% in the second quarter. Busey Trust CO now owns 27,920 shares of the company’s stock worth $4,594,000 after buying an additional 479 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of McKesson Corporation by 109.9% in the second quarter. Daiwa Securities Group Inc. now owns 56,894 shares of the company’s stock worth $9,361,000 after buying an additional 29,783 shares during the last quarter. Coronation Fund Managers Ltd. acquired a new stake in McKesson Corporation during the second quarter valued at about $1,524,000. Finally, Rothschild Asset Management Inc. acquired a new stake in McKesson Corporation during the second quarter valued at about $433,000. Institutional investors and hedge funds own 86.58% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 149.08 on Tuesday. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 6.76 and a beta of 1.13. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $196.08. The company’s 50-day moving average price is $162.34 and its 200-day moving average price is $152.06.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS 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 analysts’ expectations of $51.22 billion. During the same quarter last year, the firm posted $3.50 earnings per share. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that McKesson Corporation will post $12.09 earnings per share 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 paid a dividend of $0.34 per share. This is a positive change 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 payout ratio is 5.00%.
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Several research firms recently issued reports on MCK. UBS AG reiterated 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. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a research report on Monday, July 17th. Leerink Swann increased their target price on McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Finally, Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. McKesson Corporation currently has an average rating of “Hold” and an average target price of $171.21.
In other news, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the transaction, the chairman now directly owns 19,309 shares in the company, valued at approximately $3,162,041.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 404 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following 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. Over the last quarter, insiders have sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by company insiders.
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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