Warren Averett Asset Management LLC decreased its stake in McKesson Corporation (NYSE:MCK) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 6,510 shares of the company’s stock after selling 18 shares during the period. Warren Averett Asset Management LLC’s holdings in McKesson Corporation were worth $1,071,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its position in McKesson Corporation by 18.7% in the second quarter. Janney Montgomery Scott LLC now owns 33,062 shares of the company’s stock valued at $5,440,000 after buying an additional 5,216 shares during the period. Harbour Capital Advisors LLC increased its position in McKesson Corporation by 15,915.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after buying an additional 1,013,942 shares during the period. IBM Retirement Fund increased its position in McKesson Corporation by 120.1% in the second quarter. IBM Retirement Fund now owns 5,200 shares of the company’s stock valued at $956,000 after buying an additional 2,837 shares during the period. NGAM Advisors L.P. increased its position in McKesson Corporation by 40.3% in the second quarter. NGAM Advisors L.P. now owns 77,381 shares of the company’s stock valued at $12,732,000 after buying an additional 22,240 shares during the period. Finally, Sumitomo Life Insurance Co. increased its position in McKesson Corporation by 4.9% in the second quarter. Sumitomo Life Insurance Co. now owns 3,279 shares of the company’s stock valued at $540,000 after buying an additional 153 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Corporation (MCK) opened at 149.99 on Friday. The stock has a market cap of $31.54 billion, a price-to-earnings ratio of 6.81 and a beta of 1.13. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08. The stock has a 50 day moving average price of $162.85 and a 200 day moving average price of $151.95.

McKesson Corporation (NYSE:MCK) last issued 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 net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same period in the previous year, the business earned $3.50 EPS. McKesson Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts expect that McKesson Corporation will post $12.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is presently 5.00%.

TRADEMARK VIOLATION NOTICE: “Warren Averett Asset Management LLC Decreases Stake in McKesson Corporation (MCK)” was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/12/warren-averett-asset-management-llc-decreases-stake-in-mckesson-corporation-mck.html.

Several research analysts have commented on the stock. BidaskClub downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a report on Thursday, July 27th. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a report on Monday, July 17th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Wednesday, July 12th. Finally, Leerink Swann raised their target price on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $171.21.

In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Erin M. Lampert sold 809 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $160.66, for a total value of $129,973.94. Following the sale, the senior vice president now directly owns 59 shares in the company, valued at approximately $9,478.94. The disclosure for this sale can be found here. In the last ninety days, 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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK).

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

Receive News & Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related companies with MarketBeat.com's FREE daily email newsletter.