McKesson Corporation (MCK) Stake Increased by IBM Retirement Fund
IBM Retirement Fund boosted its stake in McKesson Corporation (NYSE:MCK) by 120.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,200 shares of the company’s stock after buying an additional 2,837 shares during the period. IBM Retirement Fund’s holdings in McKesson Corporation were worth $956,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Regent Investment Management LLC boosted its stake in shares of McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock valued at $3,178,000 after buying an additional 8,055 shares during the last quarter. Loews Corp purchased a new stake in shares of McKesson Corporation during the first quarter valued at approximately $253,000. Pax World Management LLC boosted its stake in shares of McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after buying an additional 100 shares during the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of McKesson Corporation by 32.6% in the first quarter. Dubuque Bank & Trust Co. now owns 30,712 shares of the company’s stock valued at $4,553,000 after buying an additional 7,546 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake 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. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE:MCK) opened at 151.07 on Friday. The firm has a market capitalization of $31.76 billion, a P/E ratio of 6.85 and a beta of 1.13. The firm’s 50-day moving average is $163.30 and its 200 day moving average is $151.95. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data 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. 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 the consensus estimate of $51.22 billion. During the same period in the previous year, the business posted $3.50 earnings per share. McKesson Corporation’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that McKesson Corporation will post $12.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a $0.34 dividend. 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. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
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Several equities research analysts recently commented on MCK shares. Jefferies Group LLC started coverage on McKesson Corporation in a report on Wednesday, May 17th. They set a “hold” rating and a $153.00 target price on the stock. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 target price on the stock in a report on Monday, June 19th. Zacks Investment Research cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price on the stock in a report on Tuesday, May 23rd. Finally, BidaskClub cut McKesson Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $171.21.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman John H. Hammergren sold 19,316 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the completion of the sale, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,231 shares of company stock worth $9,830,297. 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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