Hunter Associates Investment Management LLC Grows Position in McKesson Corporation (MCK)
Hunter Associates Investment Management LLC increased its holdings in McKesson Corporation (NYSE:MCK) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in McKesson Corporation were worth $477,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. Wells Fargo & Company MN raised its holdings in shares of McKesson Corporation by 12.7% during the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after acquiring an additional 239,358 shares during the period. Loews Corp acquired a new stake in shares of McKesson Corporation during the first quarter valued at approximately $253,000. Pictet & Cie Europe SA raised its holdings in shares of McKesson Corporation by 30.0% during the second quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock valued at $1,076,000 after acquiring an additional 1,510 shares during the period. HealthInvest Partners AB raised its holdings in shares of McKesson Corporation by 23.7% during the second quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock valued at $10,382,000 after acquiring an additional 12,100 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its holdings in shares of McKesson Corporation by 194.3% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after acquiring an additional 19,450 shares during the period. Institutional investors and hedge funds own 85.16% of the company’s stock.
In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $162.55, for a total transaction of $176,041.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,066 shares of company stock valued at $34,599,127. Company insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE:MCK) traded up 0.94% during mid-day trading on Friday, hitting $154.01. 1,616,747 shares of the company traded hands. The company’s 50-day moving average is $151.41 and its 200-day moving average is $153.02. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 6.99 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ 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 company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same period last year, the firm earned $3.50 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that McKesson Corporation will post $12.08 EPS for the current year.
The business also recently disclosed 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 represents a $1.36 dividend on an annualized basis and a yield of 0.88%. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s payout ratio is 6.07%.
MCK has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of McKesson Corporation from $147.00 to $168.00 and gave the company a “neutral” rating in a report on Tuesday, May 30th. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target on the stock in a report on Monday, June 12th. UBS AG restated a “neutral” rating and set a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Finally, Leerink Swann boosted their price target on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $171.53.
McKesson Corporation 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).
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.