McKesson Corporation (MCK) Shares Bought by Advisor Group Inc.
Advisor Group Inc. increased its stake in shares of McKesson Corporation (NYSE:MCK) by 21.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,455 shares of the company’s stock after purchasing an additional 3,771 shares during the quarter. Advisor Group Inc.’s holdings in McKesson Corporation were worth $3,507,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new stake in shares of McKesson Corporation during the second quarter valued at approximately $107,000. American Beacon Advisors Inc. bought a new stake in shares of McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. grew its stake in shares of McKesson Corporation by 6.0% during the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of McKesson Corporation during the second quarter valued at approximately $125,000. Finally, Archford Capital Strategies LLC grew its stake in shares of McKesson Corporation by 52.8% during the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares during the last quarter. 85.16% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Marie L/Ca Knowles sold 1,083 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 453,066 shares of company stock worth $68,724,877 in the last quarter. 1.20% of the stock is owned by corporate insiders.
Several analysts have recently commented on MCK shares. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday, July 27th. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research note on Monday, July 17th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Needham & Company LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and a consensus target price of $171.53.
McKesson Corporation (NYSE MCK) traded up 0.94% during midday trading on Friday, reaching $154.01. 1,616,747 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $151.41 and its 200 day moving average price is $153.02. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 6.99 and a beta of 1.16. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $169.29.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $51.22 billion. During the same quarter in the previous year, the firm earned $3.50 EPS. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post $12.08 EPS for the current year.
The business also recently announced 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, August 30th. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is presently 6.07%.
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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