Municipal Employees Retirement System of Michigan continued to hold its stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,840 shares of the company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in McKesson Corporation were worth $1,125,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MCK. Regent Investment Management LLC raised 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 valued at $3,178,000 after buying an additional 8,055 shares during the last quarter. Loews Corp bought a new stake in McKesson Corporation during the first quarter valued at about $253,000. Pax World Management LLC raised its stake in McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after buying an additional 100 shares during the last quarter. Dubuque Bank & Trust Co. raised its stake in McKesson Corporation by 32.6% in the first quarter. Dubuque Bank & Trust Co. now owns 30,712 shares of the company’s stock valued at $4,553,000 after buying an additional 7,546 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock valued at $3,370,074,000 after buying an additional 192,254 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Shares of McKesson Corporation (NYSE:MCK) opened at 151.07 on Friday. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $197.08. The company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 6.85 and a beta of 1.13. The firm’s 50-day moving average price is $163.30 and its 200-day moving average price is $151.95.

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 return on equity of 25.76% and a net margin of 2.42%. The firm had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same quarter last year, the company earned $3.50 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that McKesson Corporation will post $12.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is 5.00%.

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Several equities research analysts have recently issued reports on MCK shares. Jefferies Group LLC started coverage on McKesson Corporation in a research note on Wednesday, May 17th. They issued a “hold” rating and a $153.00 price objective for the company. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective for the company in a research note on Monday, June 19th. Zacks Investment Research lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a research note on Tuesday, May 23rd. Finally, BidaskClub lowered McKesson Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. 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. The stock has an average rating of “Hold” and an average price target of $171.21.

In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 19,309 shares in the company, valued at $3,162,041.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of the company’s stock in a transaction on Monday, July 31st. The stock was 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 60,231 shares of company stock worth $9,830,297 over the last 90 days. 1.20% of the stock is owned by 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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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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