Taylor Cottrill Erickson & Associates Inc. Has $2.42 Million Stake in McKesson Corporation (MCK)
Taylor Cottrill Erickson & Associates Inc. reduced its position in McKesson Corporation (NYSE:MCK) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,708 shares of the company’s stock after selling 795 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in McKesson Corporation were worth $2,420,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. American Beacon Advisors Inc. bought a new position in shares of McKesson Corporation during the first quarter worth $100,000. Archford Capital Strategies LLC boosted its position in shares of 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 in the last quarter. WFG Advisors LP boosted its position in shares of 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 in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of 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 in the last quarter. Finally, Tompkins Financial Corp boosted 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. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (MCK) opened at 149.99 on Friday. McKesson Corporation has a one year low of $114.53 and a one year high of $197.08. The stock’s 50 day moving average price is $162.85 and its 200 day moving average price is $151.95. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 6.81 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the 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 during 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% compared to the same quarter last year. Analysts expect that McKesson Corporation will post $12.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.34 dividend. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is 5.00%.
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A number of brokerages recently weighed in on MCK. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target on the stock in a research note on Monday, June 19th. Jefferies Group LLC began coverage on McKesson Corporation in a research note on Wednesday, May 17th. They issued a “hold” rating and a $153.00 price target on the stock. Evercore ISI reissued an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a research note on Monday, April 17th. UBS AG reissued a “neutral” rating and issued a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Finally, TheStreet raised McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 404 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares in the company, valued at $321,541.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 809 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total value of $129,973.94. Following the completion of the sale, the senior vice president now owns 59 shares of the company’s stock, valued at $9,478.94. The disclosure for this sale can be found here. Insiders sold 60,231 shares of company stock valued at $9,830,297 over the last 90 days. Corporate 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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