Investors Asset Management of Georgia Inc. GA ADV Has $485,000 Position in McKesson Corporation (NYSE:MCK)
Investors Asset Management of Georgia Inc. GA ADV held its stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950 shares of the company’s stock at the end of the second quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in McKesson Corporation were worth $485,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the period. Ballentine Partners LLC bought a new stake in shares of McKesson Corporation during the first quarter worth $191,000. Parnassus Investments CA boosted its stake in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the period. Pzena Investment Management LLC boosted its stake in shares of McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after buying an additional 1,301,803 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.
McKesson Corporation (NYSE MCK) opened at 154.27 on Thursday. The stock’s 50 day moving average price is $163.64 and its 200 day moving average price is $151.95. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $197.08. The firm has a market cap of $32.44 billion, a price-to-earnings ratio of 7.00 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 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter last year, the firm posted $3.50 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that McKesson Corporation will post $12.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is 5.00%.
MCK has been the topic of a number of analyst reports. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 price target on the stock in a research report on Tuesday, April 18th. Evercore ISI reiterated an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a research report on Monday, April 17th. Barclays PLC reiterated an “overweight” rating and issued a $174.00 price target on shares of McKesson Corporation in a research report on Thursday, April 27th. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the company a “hold” rating in a research report on Friday, May 19th. Finally, J P Morgan Chase & Co upgraded McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a research report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. McKesson Corporation currently has an average rating of “Hold” and an average target price of $171.21.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erin M. Lampert sold 809 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $160.66, for a total value of $129,973.94. Following the completion of the sale, the senior vice president now owns 59 shares in the company, valued at approximately $9,478.94. The disclosure for this sale can be found here. Insiders sold a total of 60,231 shares of company stock worth $9,830,297 in the last quarter. Corporate insiders own 1.20% of the company’s stock.
About McKesson Corporation
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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