Shell Asset Management Co. Holds Stake in McKesson Corporation (MCK)
Shell Asset Management Co. continued to hold its position in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,283 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in McKesson Corporation were worth $4,489,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. CHICAGO TRUST Co NA increased its position in McKesson Corporation by 2.2% in the first quarter. CHICAGO TRUST Co NA now owns 9,274 shares of the company’s stock worth $1,375,000 after buying an additional 196 shares during the last quarter. Doyle Wealth Management acquired a new position in McKesson Corporation during the first quarter worth about $579,000. Tompkins Financial Corp increased its position in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock worth $151,000 after buying an additional 78 shares during the last quarter. Atria Investments LLC increased its position in McKesson Corporation by 12.4% in the first quarter. Atria Investments LLC now owns 8,400 shares of the company’s stock worth $1,245,000 after buying an additional 925 shares during the last quarter. Finally, American National Bank increased its position in McKesson Corporation by 12.2% in the first quarter. American National Bank now owns 8,001 shares of the company’s stock worth $1,186,000 after buying an additional 867 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.
McKesson Corporation (MCK) opened at 154.27 on Thursday. The stock has a 50 day moving average of $163.64 and a 200 day moving average of $151.95. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $197.08. The stock has a market cap of $32.44 billion, a P/E ratio of 7.00 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.50 EPS. On average, equities research analysts anticipate that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
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A number of research firms recently issued reports on MCK. UBS AG reissued a “neutral” rating and issued a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective on the stock. in a report on Monday, July 17th. Leerink Swann raised their price objective on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Finally, Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $171.21.
In other news, Chairman John H. Hammergren sold 19,316 shares of McKesson Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following 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 can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of McKesson Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total value of $64,854.12. Following the transaction, the senior vice president now owns 2,003 shares in the company, valued at approximately $321,541.59. 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 90 days. 1.20% of the stock is currently owned by insiders.
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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