McKesson Corporation (MCK) Stake Held by Mercer Capital Advisers Inc.
Mercer Capital Advisers Inc. held its position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,195 shares of the company’s stock at the end of the second quarter. Mercer Capital Advisers Inc.’s holdings in McKesson Corporation were worth $197,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock valued at $3,370,074,000 after buying an additional 192,254 shares during the last quarter. BlackRock Inc. increased its position in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of McKesson Corporation during the first quarter valued at $191,000. Massachusetts Financial Services Co. MA increased its position in shares of McKesson Corporation by 3.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock valued at $730,560,000 after buying an additional 180,107 shares during the last quarter. Finally, Parnassus Investments CA increased its position in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after buying an additional 3,236,594 shares during the last quarter. 86.58% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE MCK) opened at 149.26 on Wednesday. The company’s 50-day moving average is $161.82 and its 200-day moving average is $152.15. The firm has a market cap of $31.38 billion, a P/E ratio of 6.77 and a beta of 1.13. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $196.02.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ 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 period last year, the business earned $3.50 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. McKesson Corporation’s dividend payout ratio (DPR) is 5.00%.
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MCK has been the subject of several analyst reports. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Wednesday, July 12th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a research note on Thursday, May 25th. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price for the company in a research note on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $171.21.
In other news, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was 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 have sold a total of 60,231 shares of company stock valued at $9,830,297 over the last ninety days. Company insiders own 1.20% of the company’s stock.
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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