9,265 Shares in McKesson Corporation (MCK) Acquired by Coronation Fund Managers Ltd.
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%.
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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.
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