McKesson Corporation (NYSE:MCK) Shares Bought by Diamond Hill Capital Management Inc.
Diamond Hill Capital Management Inc. boosted its position in McKesson Corporation (NYSE:MCK) by 12.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,983 shares of the company’s stock after buying an additional 2,732 shares during the period. Diamond Hill Capital Management Inc.’s holdings in McKesson Corporation were worth $3,946,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Donald L. Hagan LLC increased its stake in McKesson Corporation by 2.5% in the first quarter. Donald L. Hagan LLC now owns 6,926 shares of the company’s stock worth $1,027,000 after buying an additional 168 shares during the last quarter. Regent Investment Management LLC increased its stake in McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock worth $3,178,000 after buying an additional 8,055 shares during the last quarter. CWM LLC increased its stake in McKesson Corporation by 15.4% in the first quarter. CWM LLC now owns 164,887 shares of the company’s stock worth $24,446,000 after buying an additional 22,021 shares during the last quarter. CHICAGO TRUST Co NA increased its stake 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. Finally, Doyle Wealth Management purchased a new stake in McKesson Corporation during the first quarter worth $579,000. Institutional investors own 89.10% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 151.07 on Friday. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $197.08. The stock has a market capitalization of $31.76 billion, a PE ratio of 6.85 and a beta of 1.13. The stock’s 50 day moving average price is $163.30 and its 200 day moving average price is $151.95.
McKesson Corporation (NYSE:MCK) last issued 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 business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same period in the prior year, the business posted $3.50 earnings per share. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts predict that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.
The firm also recently declared 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
A number of analysts recently weighed in on the company. UBS Group AG restated a “neutral” rating and issued a $166.00 target price (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a research report on Monday, July 17th. Leerink Swann boosted their target price on McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Finally, Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $171.21.
In other McKesson Corporation news, 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 transaction of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. Insiders have sold a total of 60,231 shares of company stock valued at $9,830,297 over the last three months. 1.20% of the stock is owned by corporate 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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