Sandy Spring Bank Sells 191 Shares of McKesson Corporation (MCK)
Sandy Spring Bank lessened its position in McKesson Corporation (NYSE:MCK) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,750 shares of the company’s stock after selling 191 shares during the quarter. Sandy Spring Bank’s holdings in McKesson Corporation were worth $1,440,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in McKesson Corporation by 12.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after buying an additional 239,358 shares during the last quarter. Loews Corp acquired a new stake in McKesson Corporation in the 1st quarter valued at approximately $253,000. HealthInvest Partners AB raised its position in McKesson Corporation by 23.7% in the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock valued at $10,382,000 after buying an additional 12,100 shares during the last quarter. ProVise Management Group LLC raised its position in McKesson Corporation by 495.7% in the 2nd quarter. ProVise Management Group LLC now owns 25,525 shares of the company’s stock valued at $4,200,000 after buying an additional 21,240 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its position in McKesson Corporation by 6.1% in the 2nd quarter. GHP Investment Advisors Inc. now owns 11,201 shares of the company’s stock valued at $1,843,000 after buying an additional 642 shares during the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Insiders have sold 3,066 shares of company stock valued at $473,627 over the last ninety days. 1.20% of the stock is currently owned by company insiders.
Shares of McKesson Corporation (MCK) traded down 1.19% on Friday, hitting $149.88. The stock had a trading volume of 2,903,086 shares. The company has a market capitalization of $31.51 billion, a price-to-earnings ratio of 6.80 and a beta of 1.16. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29. The company has a 50-day moving average of $152.20 and a 200 day moving average of $153.01.
McKesson Corporation (NYSE:MCK) last issued 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). The business had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.50 earnings per share. On average, equities research analysts predict that McKesson Corporation will post $12.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. 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 (DPR) is presently 6.07%.
MCK has been the topic of a number of recent research reports. BidaskClub lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research report on Wednesday, July 12th. Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price on the stock in a research report on Thursday, May 25th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a research report on Tuesday, May 23rd. Finally, TheStreet lowered McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. McKesson Corporation presently has an average rating of “Hold” and an average price target of $170.91.
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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