Signaturefd LLC Has $535,000 Stake in McKesson Corp. (MCK)
Signaturefd LLC boosted its stake in McKesson Corp. (NYSE:MCK) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,866 shares of the company’s stock after buying an additional 357 shares during the period. Signaturefd LLC’s holdings in McKesson Corp. were worth $535,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. NN Investment Partners Holdings N.V. purchased a new stake in McKesson Corp. during the first quarter valued at about $219,000. 1832 Asset Management L.P. purchased a new stake in McKesson Corp. during the first quarter valued at about $828,000. OMERS ADMINISTRATION Corp raised its stake in McKesson Corp. by 2.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 17,000 shares of the company’s stock valued at $2,673,000 after buying an additional 400 shares during the last quarter. BB&T Securities LLC raised its stake in McKesson Corp. by 217.4% in the first quarter. BB&T Securities LLC now owns 33,689 shares of the company’s stock valued at $5,297,000 after buying an additional 23,075 shares during the last quarter. Finally, Zebra Capital Management LLC purchased a new stake in McKesson Corp. during the first quarter valued at about $501,000. Hedge funds and other institutional investors own 84.75% of the company’s stock.
Shares of McKesson Corp. (NYSE:MCK) traded up 0.97% on Tuesday, reaching $162.21. 441,212 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $170.54 and a 200 day moving average price of $179.56. McKesson Corp. has a one year low of $148.29 and a one year high of $202.20. The firm has a market cap of $36.61 billion, a PE ratio of 16.84 and a beta of 0.93.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.17. The business earned $49.73 billion during the quarter, compared to the consensus estimate of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.14 EPS. Analysts expect that McKesson Corp. will post $13.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 1st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. McKesson Corp.’s dividend payout ratio (DPR) is presently 11.64%.
Several equities analysts recently weighed in on MCK shares. Vetr upgraded shares of McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 price target for the company in a research report on Monday, June 20th. FBR & Co restated a “buy” rating on shares of McKesson Corp. in a research report on Wednesday, June 22nd. Robert W. Baird restated a “buy” rating and set a $220.00 price target on shares of McKesson Corp. in a research report on Wednesday, June 29th. Bank of America Corp. restated a “hold” rating on shares of McKesson Corp. in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of McKesson Corp. in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. McKesson Corp. presently has an average rating of “Buy” and an average target price of $201.17.
In related news, Director Wayne A. Budd sold 2,309 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $179.70, for a total transaction of $414,927.30. Following the completion of the transaction, the director now directly owns 723 shares in the company, valued at approximately $129,923.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman John H. Hammergren sold 100,500 shares of the business’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 transaction, the chairman now owns 100,500 shares of the company’s stock, valued at $18,514,110. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
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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