Oak Associates Ltd. OH boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,950 shares of the company’s stock after purchasing an additional 3,600 shares during the quarter. Oak Associates Ltd. OH’s holdings in McKesson Corporation were worth $6,573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Raymond James Financial Services Advisors Inc. increased its holdings in McKesson Corporation by 39.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,518 shares of the company’s stock worth $3,042,000 after purchasing an additional 5,764 shares during the period. LBA Wealth Management LLC increased its holdings in McKesson Corporation by 0.4% during the 1st quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock worth $953,000 after purchasing an additional 25 shares during the period. Pacer Advisors Inc. increased its holdings in McKesson Corporation by 10.5% during the 1st quarter. Pacer Advisors Inc. now owns 9,467 shares of the company’s stock worth $1,404,000 after purchasing an additional 900 shares during the period. Highstreet Asset Management Inc. increased its holdings in McKesson Corporation by 19.4% during the 1st quarter. Highstreet Asset Management Inc. now owns 6,890 shares of the company’s stock worth $1,022,000 after purchasing an additional 1,118 shares during the period. Finally, Buckingham Capital Management Inc. purchased a new stake in McKesson Corporation during the 1st quarter worth about $356,000. Institutional investors own 85.16% of the company’s stock.

In related news, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 952,066 shares of company stock valued at $145,736,987. 1.20% of the stock is owned by corporate insiders.

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Several brokerages have weighed in on MCK. Vetr upgraded 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 19th. Royal Bank Of Canada began coverage on McKesson Corporation in a report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 price target on the stock. Cowen and Company upgraded McKesson Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $176.00 to $189.00 in a report on Tuesday, October 10th. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $172.45.

Shares of McKesson Corporation (NYSE MCK) traded down 0.12% during mid-day trading on Monday, hitting $146.99. The company had a trading volume of 492,833 shares. The stock’s 50-day moving average is $152.00 and its 200-day moving average is $153.59. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The stock has a market cap of $30.91 billion, a price-to-earnings ratio of 6.67 and a beta of 1.17.

McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data 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). The firm had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.50 earnings per share. Equities analysts forecast that McKesson Corporation will post $12.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were issued a $0.34 dividend. 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 0.92%. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s payout ratio is currently 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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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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