McKesson Corp. (MCK) Stake Boosted by AT Bancorp
AT Bancorp boosted its stake in shares of McKesson Corp. (NYSE:MCK) by 90.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,541 shares of the company’s stock after buying an additional 15,421 shares during the period. McKesson Corp. makes up about 0.7% of AT Bancorp’s investment portfolio, making the stock its 22nd largest position. AT Bancorp’s holdings in McKesson Corp. were worth $5,426,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MCK. Quotient Investors LLC boosted its position in McKesson Corp. by 7.2% in the second quarter. Quotient Investors LLC now owns 6,600 shares of the company’s stock valued at $1,232,000 after buying an additional 445 shares during the last quarter. American National Bank boosted its position in McKesson Corp. by 3.0% in the second quarter. American National Bank now owns 3,277 shares of the company’s stock valued at $611,000 after buying an additional 94 shares during the last quarter. Bank of Stockton boosted its position in McKesson Corp. by 0.7% in the second quarter. Bank of Stockton now owns 8,061 shares of the company’s stock valued at $1,505,000 after buying an additional 60 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in McKesson Corp. by 4.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 58,247 shares of the company’s stock valued at $10,872,000 after buying an additional 2,592 shares during the last quarter. Finally, Watch Point Trust Co purchased a new position in McKesson Corp. during the second quarter valued at $217,000. Institutional investors and hedge funds own 86.25% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded down 1.11% during trading on Tuesday, reaching $141.25. 1,785,998 shares of the company were exchanged. McKesson Corp. has a 1-year low of $114.53 and a 1-year high of $202.20. The stock has a market capitalization of $31.93 billion, a P/E ratio of 16.93 and a beta of 1.02. The company’s 50-day moving average price is $147.23 and its 200-day moving average price is $174.41.
McKesson Corp. (NYSE:MCK) last posted its earnings results on Thursday, October 27th. The company reported $2.94 earnings per share for the quarter, missing analysts’ consensus estimates of $3.05 by $0.11. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The business earned $49.96 billion during the quarter, compared to the consensus estimate of $24.16 billion. During the same quarter last year, the firm earned $3.31 earnings per share. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts forecast that McKesson Corp. will post $12.53 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 1st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.78%. McKesson Corp.’s dividend payout ratio (DPR) is presently 13.45%.
MCK has been the topic of several research analyst reports. Standpoint Research raised shares of McKesson Corp. from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a report on Friday, October 28th. Mizuho raised shares of McKesson Corp. from a “neutral” rating to a “buy” rating and set a $147.00 price target on the stock in a report on Wednesday, November 9th. Argus reaffirmed a “hold” rating on shares of McKesson Corp. in a report on Monday, September 19th. Zacks Investment Research cut shares of McKesson Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Finally, Deutsche Bank AG cut shares of McKesson Corp. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $196.00 to $153.00 in a report on Friday, October 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. McKesson Corp. currently has an average rating of “Hold” and an average target price of $189.50.
In related news, Chairman John H. Hammergren sold 100,500 shares of McKesson Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at approximately $18,514,110. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan R. Salka purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were purchased at an average cost of $136.35 per share, with a total value of $136,350.00. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by insiders.
McKesson Corp. 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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