ProShare Advisors LLC Sells 968 Shares of McKesson Corporation (MCK)
ProShare Advisors LLC decreased its holdings in McKesson Corporation (NYSE:MCK) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,885 shares of the company’s stock after selling 968 shares during the period. ProShare Advisors LLC’s holdings in McKesson Corporation were worth $5,575,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in shares of McKesson Corporation by 12.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after buying an additional 239,358 shares during the period. Loews Corp purchased a new stake in shares of McKesson Corporation in the 1st quarter valued at approximately $253,000. Pictet & Cie Europe SA grew its stake in shares of McKesson Corporation by 30.0% in the 2nd quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock valued at $1,076,000 after buying an additional 1,510 shares during the period. HealthInvest Partners AB grew its stake in shares of McKesson Corporation by 23.7% in the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock valued at $10,382,000 after buying an additional 12,100 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd grew its stake in shares of McKesson Corporation by 194.3% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after buying an additional 19,450 shares during the period. Institutional investors own 85.16% of the company’s stock.
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McKesson Corporation (NYSE:MCK) opened at 150.18 on Thursday. The stock has a market cap of $31.58 billion, a PE ratio of 6.81 and a beta of 1.16. The firm has a 50-day moving average of $151.41 and a 200 day moving average of $153.02. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $169.29.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The business had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the prior year, the firm earned $3.50 earnings per share. McKesson Corporation’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that McKesson Corporation will post $12.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.34 per share. This is an increase 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 of this dividend is Wednesday, August 30th. McKesson Corporation’s payout ratio is currently 6.07%.
In other news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Christine Jacobs sold 1,083 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,066 shares of company stock valued at $473,627. 1.20% of the stock is owned by insiders.
Several research firms have recently weighed in on MCK. UBS AG reissued a “neutral” rating and issued a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Barclays PLC set a $187.00 price objective on shares of McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price objective for the company in a research report on Thursday, May 25th. Finally, Royal Bank Of Canada assumed coverage on shares of McKesson Corporation in a research report on Tuesday. They set a “sector perform” rating and a $168.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. McKesson Corporation presently has a consensus rating of “Hold” and an average price target of $171.53.
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.
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