McKesson Corporation (MCK) Holdings Decreased by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. reduced its position in McKesson Corporation (NYSE:MCK) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,951 shares of the company’s stock after selling 512 shares during the quarter. First Allied Advisory Services Inc.’s holdings in McKesson Corporation were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new position in shares of McKesson Corporation in the first quarter worth approximately $100,000. Captrust Financial Advisors purchased a new position in shares of McKesson Corporation in the second quarter worth $107,000. Archford Capital Strategies LLC lifted its holdings in shares of McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares in the last quarter. WFG Advisors LP lifted its holdings in shares of McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares in the last quarter. Finally, Orrstown Financial Services Inc. lifted its holdings in shares of McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 85.16% of the company’s stock.
Several research firms have recently commented on MCK. UBS AG reissued a “neutral” rating and issued a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC set a $187.00 target price on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a report on Thursday, July 27th. Finally, Robert W. Baird raised shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $175.00 to $178.00 in a report on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $171.53.
In other news, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 952,066 shares of company stock worth $145,736,987. 1.20% of the stock is currently owned by corporate insiders.
McKesson Corporation (NYSE MCK) traded down 0.07% during midday trading on Friday, reaching $153.61. 1,440,111 shares of the company were exchanged. The stock has a market capitalization of $32.30 billion, a P/E ratio of 6.97 and a beta of 1.16. The firm’s 50 day moving average price is $151.41 and its 200-day moving average price is $153.02. McKesson Corporation has a 52 week low of $114.53 and a 52 week 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 (EPS) for the quarter, missing the 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 business had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same period last year, the firm earned $3.50 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The firm also recently announced 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 represents a $1.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is 6.07%.
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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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