Parsec Financial Management Inc. increased its position in shares of McKesson Corporation (NYSE:MCK) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 7,658 shares of the company’s stock after buying an additional 187 shares during the period. Parsec Financial Management Inc.’s holdings in McKesson Corporation were worth $1,260,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. American Beacon Advisors Inc. bought a new stake in McKesson Corporation during the first quarter worth about $100,000. Archford Capital Strategies LLC increased its stake in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares during the last quarter. WFG Advisors LP increased its stake in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares during the last quarter. Orrstown Financial Services Inc. increased its stake in McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after buying an additional 43 shares during the last quarter. Finally, Tompkins Financial Corp increased its stake in 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 during the last quarter. Institutional investors own 86.58% of the company’s stock.

Shares of McKesson Corporation (NYSE MCK) opened at 149.08 on Tuesday. The firm has a 50-day moving average of $162.34 and a 200 day moving average of $152.06. The stock has a market capitalization of $31.35 billion, a PE ratio of 6.76 and a beta of 1.13. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $196.08.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corporation will post $12.09 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 issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 5.00%.

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A number of equities research analysts have recently issued reports on the stock. 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 research report on Monday, June 19th. Jefferies Group LLC assumed coverage on shares of McKesson Corporation in a research report on Wednesday, May 17th. They set a “hold” rating and a $153.00 price target for the company. Evercore ISI reiterated an “outperform” rating and set a $166.00 price target on shares of McKesson Corporation in a research report on Monday, April 17th. UBS AG reiterated a “neutral” rating and set a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Finally, TheStreet upgraded shares of McKesson Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. 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 company. The company presently has a consensus rating of “Hold” and an average target price of $171.21.

In other McKesson Corporation news, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total value of $3,135,179.96. Following the transaction, the chairman now owns 96,644 shares in the company, valued at approximately $15,686,287.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Insiders have sold 60,231 shares of company stock worth $9,830,297 in the last 90 days. 1.20% of the stock is owned by company 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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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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