Seaward Management Limited Partnership Purchases 92 Shares of McKesson Corp. (MCK)
Seaward Management Limited Partnership boosted its stake in McKesson Corp. (NYSE:MCK) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 109,702 shares of the company’s stock after buying an additional 92 shares during the period. Seaward Management Limited Partnership’s holdings in McKesson Corp. were worth $20,475,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised 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 during the period. BlackRock Fund Advisors raised its stake in McKesson Corp. by 4.1% in the first quarter. BlackRock Fund Advisors now owns 3,097,614 shares of the company’s stock valued at $487,100,000 after buying an additional 122,232 shares during the period. BlackRock Group LTD raised its stake in McKesson Corp. by 0.8% in the first quarter. BlackRock Group LTD now owns 2,792,851 shares of the company’s stock valued at $439,176,000 after buying an additional 22,940 shares during the period. Institutional Capital LLC raised its stake in McKesson Corp. by 9.5% in the first quarter. Institutional Capital LLC now owns 2,206,437 shares of the company’s stock valued at $346,962,000 after buying an additional 191,103 shares during the period. Finally, Geode Capital Management LLC raised its stake in McKesson Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,897,745 shares of the company’s stock valued at $297,829,000 after buying an additional 29,337 shares during the period. Institutional investors own 84.77% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded up 0.97% during mid-day trading on Wednesday, hitting $166.40. The stock had a trading volume of 1,865,520 shares. The stock has a market cap of $37.56 billion, a P/E ratio of 17.28 and a beta of 0.95. The company’s 50 day moving average price is $185.20 and its 200 day moving average price is $178.76. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20.
McKesson Corp. (NYSE:MCK) last released its earnings results on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.17. The firm earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. McKesson Corp.’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.14 EPS. Equities research analysts predict that McKesson Corp. will post $13.63 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.67%. McKesson Corp.’s payout ratio is currently 11.64%.
Several equities research analysts have commented on MCK shares. Zacks Investment Research lowered McKesson Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Goldman Sachs Group Inc. lowered McKesson Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $210.00 to $189.00 in a research report on Friday, September 16th. FBR & Co restated a “buy” rating on shares of McKesson Corp. in a research report on Saturday, June 4th. Morgan Stanley upped their price target on McKesson Corp. from $199.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of McKesson Corp. in a research report on Thursday, June 30th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $201.95.
In other news, Director Wayne A. Budd sold 2,309 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $179.70, for a total transaction of $414,927.30. Following the completion of the sale, the director now directly owns 723 shares of the company’s stock, valued at approximately $129,923.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $180.77, for a total transaction of $18,167,385.00. Following the sale, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,167,385. The disclosure for this sale can be found here. 1.15% of the stock is currently 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.
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corp. (NYSE:MCK).
Receive News & Ratings for McKesson Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corp. and related companies with MarketBeat.com's FREE daily email newsletter.