Tokio Marine Asset Management Co. Ltd. cut its stake in McKesson Corporation (NYSE:MCK) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,450 shares of the company’s stock after selling 978 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in McKesson Corporation were worth $511,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Baupost Group LLC MA bought a new position in shares of McKesson Corporation during the fourth quarter valued at approximately $140,450,000. Regent Investment Management LLC raised its stake in McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock worth $3,178,000 after buying an additional 8,055 shares during the period. Putnam Investments LLC raised its stake in McKesson Corporation by 13.9% in the fourth quarter. Putnam Investments LLC now owns 330,676 shares of the company’s stock worth $46,443,000 after buying an additional 40,276 shares during the period. Pax World Management LLC raised its stake in McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock worth $246,000 after buying an additional 100 shares during the period. Finally, Highbridge Capital Management LLC raised its stake in McKesson Corporation by 25.7% in the fourth quarter. Highbridge Capital Management LLC now owns 99,465 shares of the company’s stock worth $13,969,000 after buying an additional 20,309 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
McKesson Corporation (MCK) opened at 165.20 on Wednesday. The company has a 50 day moving average of $159.48 and a 200-day moving average of $148.28. The stock has a market capitalization of $34.84 billion, a P/E ratio of 7.27 and a beta of 1.13. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $199.43.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.35. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The firm had revenue of $48.71 billion during the quarter, compared to analyst estimates of $49.48 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson Corporation will post $12.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $1.12 annualized dividend and a yield of 0.68%. McKesson Corporation’s payout ratio is 4.80%.
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A number of research firms have issued reports on MCK. TheStreet upgraded shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Barclays PLC set a $187.00 target price on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Vetr lowered shares of McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 target price on the stock. in a report on Monday, May 22nd. Leerink Swann set a $140.00 target price on shares of McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th. Finally, Morgan Stanley increased their target price on shares of McKesson Corporation from $165.00 to $179.00 and gave the stock an “overweight” rating in a report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus target price of $170.70.
In other news, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the completion of the transaction, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 809 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total transaction of $129,973.94. Following the transaction, the senior vice president now owns 59 shares of the company’s stock, valued at approximately $9,478.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,148 shares of company stock valued at $9,654,255. 1.20% of the stock is owned by insiders.
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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