Pacer Advisors Inc. Has $1.62 Million Stake in McKesson Corporation (MCK)
Pacer Advisors Inc. lifted its position in McKesson Corporation (NYSE:MCK) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,530 shares of the company’s stock after buying an additional 688 shares during the period. Pacer Advisors Inc.’s holdings in McKesson Corporation were worth $1,617,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. IHT Wealth Management LLC grew its position in shares of McKesson Corporation by 64.2% in the 2nd quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock worth $1,027,000 after buying an additional 190 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of McKesson Corporation in the 2nd quarter worth approximately $107,000. American Beacon Advisors Inc. purchased a new position in shares of McKesson Corporation in the 1st quarter worth approximately $100,000. Harvest Fund Management Co. Ltd purchased a new position in shares of McKesson Corporation in the 2nd quarter worth approximately $125,000. Finally, Archford Capital Strategies LLC grew its position in shares of McKesson Corporation by 52.8% in the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares during the last quarter. 87.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Erin M. Lampert sold 900 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $154.81, for a total transaction of $15,481,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,543,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 949,900 shares of company stock valued at $145,403,445. Company insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE:MCK) traded down $3.89 during mid-day trading on Tuesday, hitting $138.24. 3,618,200 shares of the stock traded hands, compared to its average volume of 1,860,112. The stock has a market cap of $29,630.00, a P/E ratio of 11.69, a P/E/G ratio of 1.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Corporation has a fifty-two week low of $133.82 and a fifty-two week high of $169.29.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.78 by $0.50. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. During the same period in the prior year, the firm earned $2.94 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, November 30th. McKesson Corporation’s dividend payout ratio is currently 6.44%.
A number of brokerages have recently issued reports on MCK. Credit Suisse Group reaffirmed an “underperform” rating and issued a $130.00 price objective (down previously from $155.00) on shares of McKesson Corporation in a research report on Thursday, November 9th. Needham & Company LLC reissued a “buy” rating and set a $173.00 target price (down previously from $178.00) on shares of McKesson Corporation in a research report on Wednesday, November 1st. ValuEngine raised shares of McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Royal Bank Of Canada reissued a “hold” rating and set a $170.00 target price on shares of McKesson Corporation in a research report on Friday, October 27th. Finally, Mizuho set a $168.00 target price on shares of McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $174.27.
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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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