Mason Street Advisors LLC Has $4.35 Million Position in McKesson Corporation (MCK)
Mason Street Advisors LLC reduced its position in McKesson Corporation (NYSE:MCK) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,304 shares of the company’s stock after selling 1,624 shares during the period. Mason Street Advisors LLC’s holdings in McKesson Corporation were worth $4,345,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Orrstown Financial Services Inc. boosted its stake in shares of McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock worth $106,000 after buying an additional 100 shares during the last quarter. Welch Group LLC boosted its stake in shares of McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock worth $141,000 after buying an additional 175 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock worth $151,000 after buying an additional 78 shares during the last quarter. Independent Advisor Alliance bought a new stake in shares of McKesson Corporation during the fourth quarter worth approximately $161,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of McKesson Corporation by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,385 shares of the company’s stock worth $205,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 89.85% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 159.83 on Friday. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 7.03 and a beta of 1.15. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $199.43. The stock has a 50 day moving average price of $153.24 and a 200 day moving average price of $146.90.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.35. The business had revenue of $48.71 billion for the quarter, compared to analysts’ expectations of $49.48 billion. McKesson Corporation had a return on equity of 29.99% and a net margin of 2.55%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. On average, equities analysts anticipate that McKesson Corporation will post $12.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, June 1st. McKesson Corporation’s dividend payout ratio is currently 4.80%.
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A number of analysts have commented on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. Citigroup Inc. upped their price target on McKesson Corporation from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price target for the company. in a research report on Tuesday, April 11th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Finally, Leerink Swann set a $140.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $170.89.
In other news, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $150.44, for a total transaction of $15,119,220.00. Following the transaction, the chairman now directly owns 22,390 shares in the company, valued at approximately $3,368,351.60. 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 90 days, insiders have sold 159,648 shares of company stock worth $24,773,475. Insiders own 1.15% of the company’s stock.
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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