Trade Report: The Supplemental Annuity Collective Trust of NJ Reached $1,060,000 position of McKesson Corp. (MCK)

The Supplemental Annuity Collective Trust of NJ Reached $1,060,000 position  of McKesson Corp. (MCK)

Supplemental Annuity Collective Trust of NJ maintained its stake in McKesson Corp. (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,679 shares of the company’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in McKesson Corp. were worth $1,060,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in 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. CAM Group Holding A S boosted its stake in 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 boosted its stake in 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. Legal & General Group Plc boosted its stake in 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. Finally, Southpoint Capital Advisors LP boosted its stake in McKesson Corp. by 18.8% in the first quarter. Southpoint Capital Advisors LP now owns 1,069,642 shares of the company’s stock valued at $168,201,000 after buying an additional 169,642 shares in the last quarter. 84.75% of the stock is currently owned by institutional investors and hedge funds.

McKesson Corp. (NYSE:MCK) traded down 22.67% during mid-day trading on Friday, reaching $124.11. 28,158,084 shares of the company’s stock were exchanged. The company has a 50-day moving average of $164.07 and a 200-day moving average of $179.06. McKesson Corp. has a 52-week low of $114.53 and a 52-week high of $202.20. The stock has a market cap of $28.05 billion, a price-to-earnings ratio of 14.88 and a beta of 0.93.

McKesson Corp. (NYSE:MCK) last released its quarterly earnings data on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $3.05 by $0.11. McKesson Corp. had a net margin of 0.99% and a return on equity of 30.23%. The business earned $49.96 billion during the quarter, compared to the consensus estimate of $24.16 billion. During the same period last year, the business posted $3.31 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that McKesson Corp. will post $13.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, November 29th. McKesson Corp.’s payout ratio is currently 13.45%.

Several equities research analysts recently commented on MCK shares. Zacks Investment Research cut shares of McKesson Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. Goldman Sachs Group Inc. lowered shares of McKesson Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $210.00 to $189.00 in a research note on Friday, September 16th. Leerink Swann lowered shares of McKesson Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday. Morgan Stanley lifted their price target on shares of McKesson Corp. from $199.00 to $211.00 and gave the company an “overweight” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank AG lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating and lowered their price target for the company from $196.00 to $153.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. McKesson Corp. presently has an average rating of “Hold” and a consensus price target of $195.50.

In related news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 1,739 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $165.94, for a total transaction of $288,569.66. 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 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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