Nisa Investment Advisors LLC boosted its stake in McKesson Corp. (NYSE:MCK) by 7.7% during the third quarter, Holdings Channel reports. The fund owned 105,492 shares of the company’s stock after buying an additional 7,584 shares during the period. Nisa Investment Advisors LLC’s holdings in McKesson Corp. were worth $17,591,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Kelman Lazarov Inc. bought a new stake in shares of McKesson Corp. during the second quarter worth approximately $115,000. Welch Group LLC bought a new stake in shares of McKesson Corp. during the second quarter worth approximately $126,000. Seven Eight Capital LLC bought a new stake in shares of McKesson Corp. during the first quarter worth approximately $110,000. Winslow Evans & Crocker Inc. raised its stake in shares of McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock worth $152,000 after buying an additional 101 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of McKesson Corp. by 5.7% in the third quarter. Carroll Financial Associates Inc. now owns 928 shares of the company’s stock worth $154,000 after buying an additional 50 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corp. (NYSE:MCK) traded up 0.37% during trading on Monday, hitting $143.60. 864,769 shares of the company traded hands. McKesson Corp. has a 12-month low of $114.53 and a 12-month high of $202.20. The firm has a market capitalization of $32.47 billion, a P/E ratio of 17.21 and a beta of 1.02. The stock has a 50-day moving average price of $147.88 and a 200-day moving average price of $174.51.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. McKesson Corp. had a net margin of 0.99% and a return on equity of 29.85%. The business earned $49.96 billion during the quarter, compared to analyst estimates of $24.16 billion. During the same period last year, the firm posted $3.31 earnings per share. McKesson Corp.’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that McKesson Corp. will post $12.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 29th. McKesson Corp.’s dividend payout ratio (DPR) is presently 13.45%.
A number of equities research analysts have commented on the stock. Mizuho increased their price objective on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of McKesson Corp. from $210.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, August 9th. Zacks Investment Research lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Leerink Swann reissued an “outperform” rating and set a $230.00 price objective on shares of McKesson Corp. in a report on Thursday, September 1st. Finally, Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $189.50.
In other McKesson Corp. news, Director Wayne A. Budd sold 2,309 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $179.70, for a total value of $414,927.30. Following the transaction, the director now directly owns 723 shares of the company’s stock, valued at $129,923.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total value of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares in the company, valued at $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is owned by company insiders.
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.