Northwestern Mutual Wealth Management Co. lifted its position in shares of McKesson Corporation (NYSE:MCK) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,605 shares of the company’s stock after acquiring an additional 292 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McKesson Corporation were worth $1,251,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. American Beacon Advisors Inc. purchased a new stake in shares of McKesson Corporation during the 1st quarter worth approximately $100,000. Orrstown Financial Services Inc. boosted its stake in shares of McKesson Corporation by 6.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after acquiring an additional 43 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of McKesson Corporation by 52.8% during the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after acquiring an additional 268 shares in the last quarter. Tompkins Financial Corp boosted its stake in shares of McKesson Corporation by 2.3% during the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock worth $129,000 after acquiring an additional 18 shares in the last quarter. Finally, WFG Advisors LP boosted its stake in shares of McKesson Corporation by 123.5% during the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after acquiring an additional 452 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corporation (MCK) opened at 155.18 on Tuesday. McKesson Corporation has a one year low of $114.53 and a one year high of $179.45. The firm has a 50-day moving average price of $153.39 and a 200 day moving average price of $152.91. The firm has a market capitalization of $32.63 billion, a P/E ratio of 7.04 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share 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 business had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the previous year, the business posted $3.50 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post $12.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.85%. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.07%.
Several equities research analysts have recently commented on MCK shares. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target on the stock in a research note on Monday, June 12th. Leerink Swann set a $140.00 price target on McKesson Corporation and gave the stock a “hold” rating in a research note on Friday, May 19th. J P Morgan Chase & Co raised McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a research note on Tuesday, May 23rd. TheStreet lowered McKesson Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Finally, Jefferies Group LLC started coverage on McKesson Corporation in a research note on Wednesday, May 17th. They set a “hold” rating and a $153.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and an average target price of $172.31.
In related news, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction that occurred 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. Insiders sold a total of 3,066 shares of company stock valued at $473,627 in the last ninety days. Company insiders own 1.20% of the company’s stock.
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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.
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