Coronation Fund Managers Ltd. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 9,265 shares of the company’s stock, valued at approximately $1,524,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 during the last quarter. Ballentine Partners LLC acquired a new position in McKesson Corporation during the first quarter valued at approximately $191,000. Parnassus Investments CA raised its position 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 during the last quarter. Pzena Investment Management LLC raised its position 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 during the last quarter. Finally, Ameriprise Financial Inc. raised its position 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 during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Shares of McKesson Corporation (NYSE:MCK) opened at 149.99 on Friday. The stock has a 50 day moving average price of $162.85 and a 200 day moving average price of $151.95. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $197.08. The stock has a market cap of $31.54 billion, a P/E ratio of 6.81 and a beta of 1.13.

McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter last year, the business earned $3.50 earnings per share. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts anticipate that McKesson Corporation will post $12.09 EPS for the current fiscal year.

The business also recently announced 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. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is 5.00%.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/13/9265-shares-in-mckesson-corporation-mck-acquired-by-coronation-fund-managers-ltd.html.

MCK has been the subject of several analyst reports. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 target price for the company in a research note on Tuesday, April 18th. Evercore ISI reissued an “outperform” rating and set a $166.00 price target on shares of McKesson Corporation in a research report on Monday, April 17th. Barclays PLC reissued an “overweight” rating and set a $174.00 price target on shares of McKesson Corporation in a research report on Thursday, April 27th. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the company a “hold” rating in a research report on Friday, May 19th. Finally, J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target for the company in a research 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 assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $171.21.

In other McKesson Corporation news, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Also, Chairman John H. Hammergren sold 19,316 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total value of $3,135,179.96. Following the transaction, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,231 shares of company stock worth $9,830,297. Corporate 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.

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.