NJ State Employees Deferred Compensation Plan continued to hold its stake in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund owned 8,000 shares of the company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in McKesson Corporation were worth $1,316,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Tompkins Financial Corp raised its position in shares of McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after buying an additional 18 shares in the last quarter. First Financial Bank Trust Division raised its position in shares of McKesson Corporation by 1.3% in the second quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock worth $298,000 after buying an additional 23 shares in the last quarter. Palisade Asset Management LLC raised its position in shares of McKesson Corporation by 0.7% in the first quarter. Palisade Asset Management LLC now owns 3,790 shares of the company’s stock worth $562,000 after buying an additional 25 shares in the last quarter. LBA Wealth Management LLC raised its position in shares of McKesson Corporation by 0.4% in the first quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock worth $953,000 after buying an additional 25 shares in the last quarter. Finally, SOL Capital Management CO raised its position in shares of McKesson Corporation by 0.9% in the second quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock worth $585,000 after buying an additional 30 shares in 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 149.99 on Friday. The company has a 50-day moving average price of $162.85 and a 200 day moving average price of $151.95. The firm has a market capitalization of $31.54 billion, a P/E ratio of 6.81 and a beta of 1.13. McKesson Corporation has a one year low of $114.53 and a one year high of $197.08.

McKesson Corporation (NYSE:MCK) last issued its 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 for 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%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $3.50 EPS. Analysts expect that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is presently 5.00%.

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A number of research analysts have weighed in on the company. BidaskClub lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday, July 27th. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research note on Monday, July 17th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Leerink Swann increased their price target on McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $171.21.

In related news, Chairman John H. Hammergren sold 38,619 shares of McKesson Corporation stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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