Tower Research Capital LLC TRC Raises Stake in McKesson Corp. (MCK)
Tower Research Capital LLC TRC boosted its position in McKesson Corp. (NYSE:MCK) by 23.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,698 shares of the company’s stock after buying an additional 318 shares during the period. Tower Research Capital LLC TRC’s holdings in McKesson Corp. were worth $317,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Seven Eight Capital LLC purchased a new stake in McKesson Corp. during the first quarter worth $110,000. Kelman Lazarov Inc. purchased a new stake in McKesson Corp. during the second quarter worth $115,000. Baker Ellis Asset Management LLC increased its stake in McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock worth $116,000 after buying an additional 100 shares in the last quarter. Welch Group LLC purchased a new stake in McKesson Corp. during the second quarter worth $126,000. Finally, Winslow Evans & Crocker Inc. increased its stake in 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. 84.80% of the stock is owned by institutional investors.
McKesson Corp. (NYSE:MCK) opened at 165.00 on Tuesday. McKesson Corp. has a 1-year low of $148.29 and a 1-year high of $202.20. The company has a 50 day moving average price of $186.75 and a 200-day moving average price of $178.83. The firm has a market capitalization of $37.24 billion, a price-to-earnings ratio of 17.13 and a beta of 0.95.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.33 by $0.17. The firm had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.14 EPS. On average, analysts forecast that McKesson Corp. will post $13.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio (DPR) is currently 11.64%.
A number of equities research analysts have recently weighed in on MCK shares. Morgan Stanley reissued a “buy” rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Vetr downgraded McKesson Corp. from a “strong-buy” rating to a “buy” rating and set a $191.16 target price for the company. in a report on Monday, May 23rd. FBR & Co reissued a “buy” rating on shares of McKesson Corp. in a report on Saturday, June 4th. Robert W. Baird restated a “buy” rating and issued a $220.00 price target on shares of McKesson Corp. in a research report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of McKesson Corp. in a research report on Thursday, June 30th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $201.95.
In other news, CFO James A. Beer sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $199.00, for a total value of $1,094,500.00. Following the completion of the transaction, the chief financial officer now owns 12,412 shares in the company, valued at approximately $2,469,988. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman John H. Hammergren sold 100,500 shares of the firm’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 owns 100,500 shares of the company’s stock, valued at approximately $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 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.
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