McKesson Corporation (MCK) Holdings Lessened by Tudor Investment Corp ET AL
Tudor Investment Corp ET AL lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,476 shares of the company’s stock after selling 3,245 shares during the period. Tudor Investment Corp ET AL’s holdings in McKesson Corporation were worth $2,053,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Wells Fargo & Company MN grew its stake in shares of McKesson Corporation by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after buying an additional 239,358 shares during the last quarter. Loews Corp purchased a new stake in shares of McKesson Corporation in the first quarter worth approximately $253,000. Dai Ichi Life Insurance Company Ltd lifted its stake in shares of McKesson Corporation by 194.3% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock worth $4,848,000 after acquiring an additional 19,450 shares during the last quarter. Pictet & Cie Europe SA lifted its stake in shares of McKesson Corporation by 30.0% during the 2nd quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock worth $1,076,000 after acquiring an additional 1,510 shares during the last quarter. Finally, HealthInvest Partners AB lifted its stake in shares of McKesson Corporation by 23.7% during the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock worth $10,382,000 after acquiring an additional 12,100 shares during the last quarter. Institutional investors and hedge funds own 85.19% of the company’s stock.
MCK has been the topic of several research analyst reports. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective on the stock in a research report on Monday, June 19th. Royal Bank Of Canada initiated coverage on McKesson Corporation in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price for the company. UBS AG reiterated a “neutral” rating and set a $166.00 target price (up from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a research note on Thursday, July 27th. Finally, Leerink Swann boosted their target price on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $171.53.
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In other news, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John H. Hammergren sold 125,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 952,066 shares of company stock valued at $145,736,987 over the last three months. 1.20% of the stock is currently owned by insiders.
Shares of McKesson Corporation (NYSE:MCK) traded up 0.90% on Monday, hitting $154.99. The stock had a trading volume of 137,702 shares. The stock has a 50 day moving average of $151.41 and a 200 day moving average of $153.02. The firm has a market cap of $32.59 billion, a price-to-earnings ratio of 7.03 and a beta of 1.17. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results 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 net margin of 2.42% and a return on equity of 25.76%. The business had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. During the same period in the prior year, the business earned $3.50 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts predict that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s payout ratio is presently 6.07%.
McKesson Corporation Company Profile
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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