Public Employees Retirement Association of Colorado Sells 55 Shares of McKesson Corporation (NYSE:MCK)
Public Employees Retirement Association of Colorado reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,524 shares of the company’s stock after selling 55 shares during the period. Public Employees Retirement Association of Colorado’s holdings in McKesson Corporation were worth $6,997,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its stake in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Ballentine Partners LLC acquired a new stake in McKesson Corporation during the first quarter valued at approximately $191,000. Parnassus Investments CA raised its stake in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock valued at $620,727,000 after buying an additional 3,236,594 shares in the last quarter. Pzena Investment Management LLC raised its stake in 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 valued at $307,951,000 after buying an additional 1,890,815 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock valued at $259,883,000 after buying an additional 1,301,803 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 151.07 on Friday. The firm’s 50-day moving average is $163.30 and its 200 day moving average is $151.95. The stock has a market cap of $31.76 billion, a P/E ratio of 6.85 and a beta of 1.13. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08.
McKesson Corporation (NYSE:MCK) last released 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. 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 analyst estimates of $51.22 billion. During the same period in the previous year, the business posted $3.50 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.
The business 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 dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. 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. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
Several equities research analysts have recently commented on MCK shares. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 price target for the company in a report on Tuesday, April 18th. Evercore ISI restated an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a report on Monday, April 17th. Barclays PLC restated an “overweight” rating and issued a $174.00 price target on shares of McKesson Corporation in a report on Thursday, April 27th. Leerink Swann set a $140.00 price target on shares of McKesson Corporation and gave the company a “hold” rating in a report on Friday, May 19th. Finally, J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a report on Tuesday, May 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the sale, the senior vice president now owns 2,003 shares of the company’s stock, valued at $321,541.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now directly owns 19,309 shares in the company, valued at approximately $3,162,041.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,231 shares of company stock worth $9,830,297. 1.20% of the stock is owned by corporate 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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