New England Professional Planning Group Inc. Acquires Shares of 1,108 McKesson Corp. (MCK)
New England Professional Planning Group Inc. bought a new position in McKesson Corp. (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund bought 1,108 shares of the company’s stock, valued at approximately $217,000.
Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of McKesson Corp. by 9.3% in the first quarter. Wellington Management Group LLP now owns 11,312,022 shares of the company’s stock worth $1,778,816,000 after buying an additional 961,630 shares during the period. Geode Capital Management LLC raised its stake in shares of McKesson Corp. by 1.6% in the first quarter. Geode Capital Management LLC now owns 1,897,745 shares of the company’s stock worth $297,829,000 after buying an additional 29,337 shares during the period. Scharf Investments LLC raised its stake in shares of McKesson Corp. by 11,803.7% in the first quarter. Scharf Investments LLC now owns 1,190,016 shares of the company’s stock worth $187,130,000 after buying an additional 1,180,019 shares during the period. Legal & General Group Plc raised its stake in shares of McKesson Corp. by 2.8% in the first quarter. Legal & General Group Plc now owns 1,124,131 shares of the company’s stock worth $176,779,000 after buying an additional 30,231 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of McKesson Corp. by 5.9% in the first quarter. Franklin Resources Inc. now owns 1,095,920 shares of the company’s stock worth $172,334,000 after buying an additional 61,297 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded down 0.59% during trading on Thursday, hitting $164.69. The stock had a trading volume of 1,185,262 shares. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The stock has a market cap of $37.17 billion, a price-to-earnings ratio of 17.10 and a beta of 0.93. The stock’s 50-day moving average is $176.82 and its 200-day moving average is $179.20.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. The business had revenue of $49.73 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $3.14 earnings per share. On average, equities research analysts expect that McKesson Corp. will post $13.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s payout ratio is currently 11.64%.
A number of brokerages have weighed in on MCK. Vetr raised McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Deutsche Bank AG reiterated a “buy” rating on shares of McKesson Corp. in a report on Monday, July 18th. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a report on Wednesday, June 22nd. Mizuho lifted their price target on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $220.00 price target on shares of McKesson Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $201.17.
In other McKesson Corp. news, Director Marie L/Ca Knowles sold 915 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $192.73, for a total value of $176,347.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Erin M. Lampert sold 1,739 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $165.94, for a total value of $288,569.66. The disclosure for this sale can be found here. 1.15% of the stock is owned by insiders.
About McKesson Corp.
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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