McKesson Corporation (MCK) Position Boosted by GHP Investment Advisors Inc.
GHP Investment Advisors Inc. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,201 shares of the company’s stock after buying an additional 642 shares during the period. GHP Investment Advisors Inc.’s holdings in McKesson Corporation were worth $1,843,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Ballentine Partners LLC purchased a new stake in McKesson Corporation during the first quarter worth approximately $191,000. Parnassus Investments CA raised its stake in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares in the last quarter. Pzena Investment Management LLC raised its stake in McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after buying an additional 1,301,803 shares in the last quarter. Institutional investors own 85.26% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 147.21 on Wednesday. The stock has a market capitalization of $30.95 billion, a P/E ratio of 6.68 and a beta of 1.13. The stock has a 50 day moving average of $157.94 and a 200-day moving average of $152.42. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $186.28.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 EPS. Analysts predict that McKesson Corporation will post $12.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.92%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
MCK has been the subject of a number of recent analyst reports. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target for the company in a report on Monday, June 12th. Leerink Swann set a $140.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a report on Friday, May 19th. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Zacks Investment Research lowered shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC initiated coverage on shares of McKesson Corporation in a report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $171.91.
In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.76, for a total value of $6,324,247.44. Following the sale, the chairman now owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. Insiders sold a total of 40,785 shares of company stock worth $6,657,790 in the last ninety days. 1.20% of the stock is owned by corporate insiders.
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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