Ajo LP boosted its position in McKesson Corporation (NYSE:MCK) by 742.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 647,052 shares of the company’s stock after purchasing an additional 570,243 shares during the quarter. Ajo LP owned about 0.31% of McKesson Corporation worth $106,466,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. American Beacon Advisors Inc. acquired a new position in McKesson Corporation in the 1st quarter valued at $100,000. Archford Capital Strategies LLC raised its stake in McKesson Corporation by 52.8% in the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares during the last quarter. WFG Advisors LP raised its stake in McKesson Corporation by 123.5% in the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after purchasing an additional 452 shares during the last quarter. Orrstown Financial Services Inc. raised its stake in McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the last quarter. Finally, Tompkins Financial Corp raised its stake in McKesson Corporation by 2.3% in the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after purchasing an additional 18 shares during the last quarter. 85.28% of the stock is owned by hedge funds and other institutional investors.
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In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. Insiders sold 3,066 shares of company stock valued at $473,627 over the last quarter. Insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 154.26 on Tuesday. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $179.45. The stock has a market capitalization of $32.43 billion, a PE ratio of 7.00 and a beta of 1.16. The stock’s 50 day moving average price is $153.39 and its 200-day moving average price is $152.91.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. The business had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.50 earnings per share. Analysts expect that McKesson Corporation will post $12.08 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is presently 6.07%.
Several research analysts recently commented on the company. Barclays PLC set a $187.00 price objective on McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. TheStreet raised McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. UBS AG raised their target price on McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a research note on Friday, May 19th. Vetr downgraded McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 target price for the company. in a research note on Monday, May 22nd. Finally, Leerink Swann set a $140.00 target price on McKesson Corporation and gave the stock a “hold” rating in a research note on Friday, May 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus target price of $172.31.
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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