Russell Investments Group Ltd. Buys 29,678 Shares of McKesson Corporation (MCK)
Russell Investments Group Ltd. increased its stake in McKesson Corporation (NYSE:MCK) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,670 shares of the company’s stock after buying an additional 29,678 shares during the period. Russell Investments Group Ltd.’s holdings in McKesson Corporation were worth $34,508,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new position in McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. raised its position in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the last quarter. Archford Capital Strategies LLC raised its position in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after buying an additional 268 shares during the last quarter. WFG Advisors LP raised its position in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after buying an additional 18 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE MCK) traded up 0.30% during trading on Monday, hitting $155.16. The stock had a trading volume of 377,092 shares. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $197.08. The stock’s 50-day moving average is $164.64 and its 200-day moving average is $151.68. The stock has a market cap of $32.62 billion, a price-to-earnings ratio of 7.04 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same period in the prior year, the business earned $3.50 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that McKesson Corporation will post $12.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a dividend of $0.34 per share. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. McKesson Corporation’s dividend payout ratio is 5.00%.
Several research analysts have recently commented on the company. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target for the company in a research report on Monday, June 19th. Jefferies Group LLC began coverage on McKesson Corporation in a research note on Wednesday, May 17th. They set a “hold” rating and a $153.00 target price on the stock. Evercore ISI restated an “outperform” rating and set a $166.00 target price on shares of McKesson Corporation in a research note on Monday, April 17th. UBS AG restated a “neutral” rating and set a $166.00 target price (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Finally, TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $171.21.
In other McKesson Corporation news, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total value of $3,135,179.96. Following the completion of the transaction, the chairman now owns 96,644 shares in the company, valued at approximately $15,686,287.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John H. Hammergren sold 38,619 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the completion of the transaction, the chairman now owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by company insiders.
McKesson Corporation 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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