Honkamp Krueger Financial Services Inc. Sells 6 Shares of McKesson Corporation (MCK)
Honkamp Krueger Financial Services Inc. decreased its position in shares of McKesson Corporation (NYSE:MCK) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,023 shares of the company’s stock after selling 6 shares during the period. Honkamp Krueger Financial Services Inc.’s holdings in McKesson Corporation were worth $662,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. increased 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 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 shares of McKesson Corporation during the first quarter valued at $191,000. Parnassus Investments CA increased 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 valued at $620,727,000 after buying an additional 3,236,594 shares in the last quarter. Pzena Investment Management LLC increased 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 valued at $307,951,000 after buying an additional 1,890,815 shares in the last quarter. Finally, Ameriprise Financial Inc. increased 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 valued at $259,883,000 after buying an additional 1,301,803 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.
Shares of McKesson Corporation (NYSE:MCK) opened at 149.99 on Friday. McKesson Corporation has a one year low of $114.53 and a one year high of $197.08. The firm has a 50-day moving average price of $162.85 and a 200 day moving average price of $151.95. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 6.81 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The business had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $3.50 earnings per share. Equities analysts forecast that McKesson Corporation will post $12.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders 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 dividend yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is 5.00%.
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Several brokerages have weighed in on MCK. UBS AG raised their price target on McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. BidaskClub downgraded McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Thursday, July 27th. Finally, Vetr raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a report on Thursday, May 25th. Two 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 company. McKesson Corporation has a consensus rating of “Hold” and an average price target of $171.21.
In other news, SVP Erin M. Lampert sold 404 shares of the stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is accessible through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the stock in a transaction that occurred 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. Over the last three months, insiders have sold 60,231 shares of company stock valued at $9,830,297. Company 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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