Prudential PLC Acquires 253,224 Shares of McKesson Corporation (MCK)
Prudential PLC lifted its holdings in McKesson Corporation (NYSE:MCK) by 48.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 780,124 shares of the company’s stock after buying an additional 253,224 shares during the quarter. Prudential PLC owned approximately 0.37% of McKesson Corporation worth $128,361,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of McKesson Corporation by 0.9% during the 1st 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. raised its stake in McKesson Corporation by 8.0% during the second quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after acquiring an additional 1,131,024 shares during the period. Vanguard Group Inc. raised its stake in McKesson Corporation by 0.4% during the second quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after acquiring an additional 62,004 shares during the period. Ballentine Partners LLC acquired a new stake in McKesson Corporation during the first quarter worth about $191,000. Finally, Massachusetts Financial Services Co. MA raised its stake in McKesson Corporation by 3.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock worth $730,560,000 after acquiring an additional 180,107 shares during the period. Institutional investors own 85.19% of the company’s stock.
A number of equities analysts have commented on the company. UBS AG restated a “neutral” rating and issued a $166.00 target price (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. BidaskClub cut McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research report on Thursday, July 27th. Robert W. Baird raised McKesson Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $175.00 to $178.00 in a report on Tuesday, September 19th. Finally, Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $171.53.
McKesson Corporation (NYSE MCK) traded down 1.06% on Tuesday, hitting $153.61. 534,065 shares of the stock traded hands. The stock has a market cap of $32.30 billion, a P/E ratio of 6.97 and a beta of 1.17. The stock has a 50-day moving average price of $150.99 and a 200 day moving average price of $153.38. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 EPS 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 business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter last year, the company earned $3.50 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a $0.34 dividend. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. McKesson Corporation’s payout ratio is presently 6.07%.
In other news, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00. The sale 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 on Monday, July 31st. The shares were 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. In the last quarter, insiders sold 952,066 shares of company stock valued at $145,736,987. Corporate insiders own 1.20% of the company’s stock.
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McKesson Corporation 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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