Sequoia Financial Advisors LLC purchased a new stake in McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,152 shares of the company’s stock, valued at approximately $215,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of McKesson Corp. by 9.3% in the first quarter. Wellington Management Group LLP now owns 11,312,022 shares of the company’s stock valued at $1,778,816,000 after buying an additional 961,630 shares in the last quarter. Geode Capital Management LLC increased its position in shares of McKesson Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,897,745 shares of the company’s stock valued at $297,829,000 after buying an additional 29,337 shares in the last quarter. CAM Group Holding A S increased its position in shares of McKesson Corp. by 2.7% in the second quarter. CAM Group Holding A S now owns 1,292,475 shares of the company’s stock valued at $241,241,000 after buying an additional 33,903 shares in the last quarter. Scharf Investments LLC increased its position in shares of McKesson Corp. by 11,803.7% in the first quarter. Scharf Investments LLC now owns 1,190,016 shares of the company’s stock valued at $187,130,000 after buying an additional 1,180,019 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of McKesson Corp. by 2.8% in the first quarter. Legal & General Group Plc now owns 1,124,131 shares of the company’s stock valued at $176,779,000 after buying an additional 30,231 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.66% during midday trading on Friday, hitting $161.00. The stock had a trading volume of 977,491 shares. The company has a market cap of $36.34 billion, a PE ratio of 16.72 and a beta of 0.93. The company’s 50 day moving average is $171.81 and its 200 day moving average is $179.20. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company earned $49.73 billion during the quarter, compared to analyst estimates of $50.32 billion. During the same period in the prior year, the company earned $3.14 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that McKesson Corp. will post $13.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 1st were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s payout ratio is presently 11.64%.
MCK has been the subject of several analyst reports. Zacks Investment Research downgraded McKesson Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, September 29th. Vetr upgraded McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 target price for the company in a research note on Monday, June 20th. Goldman Sachs Group Inc. downgraded McKesson Corp. from a “buy” rating to a “neutral” rating and cut their target price for the stock from $210.00 to $189.00 in a research note on Friday, September 16th. Mizuho cut their target price on McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating for the company in a research note on Monday, September 26th. Finally, Avondale Partners reaffirmed a “market perform” rating and issued a $197.00 price target (up previously from $172.00) on shares of McKesson Corp. in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $201.17.
In related news, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marie L/Ca Knowles sold 915 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $192.73, for a total value of $176,347.95. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.