NGAM Advisors L.P. Buys 22,240 Shares of McKesson Corporation (MCK)
NGAM Advisors L.P. increased its stake in shares of McKesson Corporation (NYSE:MCK) by 40.3% during the second quarter, Holdings Channel reports. The institutional investor owned 77,381 shares of the company’s stock after buying an additional 22,240 shares during the period. NGAM Advisors L.P.’s holdings in McKesson Corporation were worth $12,732,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in McKesson Corporation by 1.9% in the fourth quarter. Macquarie Group Ltd. now owns 49,668 shares of the company’s stock valued at $6,976,000 after buying an additional 917 shares in the last quarter. National Pension Service boosted its stake in McKesson Corporation by 2.8% in the first quarter. National Pension Service now owns 171,198 shares of the company’s stock valued at $25,591,000 after buying an additional 4,673 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in McKesson Corporation by 9.9% in the first quarter. Regentatlantic Capital LLC now owns 3,702 shares of the company’s stock valued at $549,000 after buying an additional 334 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. Finally, TNB Financial bought a new stake in McKesson Corporation during the first quarter valued at approximately $207,000. 89.10% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (MCK) opened at 151.07 on Friday. The stock has a 50 day moving average price of $163.30 and a 200-day moving average price of $151.95. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08. The firm has a market capitalization of $31.76 billion, a PE ratio of 6.85 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.50 earnings per share. Equities analysts anticipate that McKesson Corporation will post $12.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is presently 5.00%.
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Several equities research analysts recently commented on MCK shares. Evercore ISI reaffirmed an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a report on Monday, April 17th. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 price target for the company in a report on Tuesday, April 18th. Leerink Swann reaffirmed a “hold” rating and issued a $140.00 price target on shares of McKesson Corporation in a report on Friday, April 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $174.00 price target on shares of McKesson Corporation in a report on Thursday, April 27th. Finally, Zacks Investment Research cut McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $171.21.
In other news, Chairman John H. Hammergren sold 38,619 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $3,162,041.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction on 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. Over the last 90 days, insiders have sold 60,231 shares of company stock valued at $9,830,297. Insiders own 1.20% of the company’s stock.
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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