Janney Montgomery Scott LLC Has $5.44 Million Position in McKesson Corporation (NYSE:MCK)
Janney Montgomery Scott LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 18.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 33,062 shares of the company’s stock after buying an additional 5,216 shares during the period. Janney Montgomery Scott LLC’s holdings in McKesson Corporation were worth $5,440,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. American Beacon Advisors Inc. bought a new position in shares of McKesson Corporation during the first quarter valued at $100,000. Archford Capital Strategies LLC boosted its position in shares of McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after buying an additional 268 shares in the last quarter. WFG Advisors LP boosted its position in shares of McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in shares of McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after buying an additional 43 shares in the last quarter. Finally, Tompkins Financial Corp boosted its position in shares of McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after buying an additional 18 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE MCK) opened at 149.99 on Friday. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $197.08. The company’s 50-day moving average price is $162.85 and its 200-day moving average price is $151.95. The company has a market cap of $31.54 billion, a price-to-earnings ratio of 6.81 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the previous year, the business earned $3.50 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate 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 given a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.
Several equities analysts have weighed in on 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 report on Monday, June 19th. Jefferies Group LLC assumed coverage on McKesson Corporation in a report on Wednesday, May 17th. They issued a “hold” rating and a $153.00 price objective for the company. Evercore ISI reaffirmed an “outperform” rating and issued a $166.00 price objective on shares of McKesson Corporation in a report on Monday, April 17th. UBS AG reaffirmed a “neutral” rating and issued a $166.00 price objective (up from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Finally, TheStreet raised McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. 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. McKesson Corporation presently has a consensus rating of “Hold” and a consensus target price of $171.21.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total value of $64,854.12. Following the sale, 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 have sold 60,231 shares of company stock worth $9,830,297 in the last 90 days. 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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