Nomura Holdings Inc. bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,458 shares of the company’s stock, valued at approximately $3,531,000.
Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in shares of McKesson Corporation by 12.7% in the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after buying an additional 239,358 shares during the last quarter. Loews Corp acquired a new stake in shares of McKesson Corporation in the first quarter worth $253,000. Dai Ichi Life Insurance Company Ltd lifted its stake in shares of McKesson Corporation by 194.3% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock worth $4,848,000 after buying an additional 19,450 shares during the last quarter. Pictet & Cie Europe SA lifted its stake in shares of McKesson Corporation by 30.0% in the second quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock worth $1,076,000 after buying an additional 1,510 shares during the last quarter. Finally, HealthInvest Partners AB lifted its stake in shares of McKesson Corporation by 23.7% in the second quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock worth $10,382,000 after buying an additional 12,100 shares during the last quarter. 85.19% of the stock is owned by institutional investors.
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In other McKesson Corporation news, CEO John H. Hammergren sold 99,000 shares of McKesson Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the transaction, the chief executive officer now owns 165,000 shares in the company, valued at $25,391,850. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 952,066 shares of company stock worth $145,736,987. Company insiders own 1.20% of the company’s stock.
McKesson Corporation (NYSE MCK) traded down 2.8099% during midday trading on Friday, hitting $146.4363. 789,687 shares of the stock traded hands. The stock has a market capitalization of $30.79 billion, a PE ratio of 6.6438 and a beta of 1.17. The firm’s 50 day moving average is $151.86 and its 200-day moving average is $153.56. McKesson Corporation has a 12-month low of $114.53 and a 12-month 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 business had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the prior year, the firm earned $3.50 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts anticipate that McKesson Corporation will post $12.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 6.07%.
A number of brokerages have recently weighed in on MCK. UBS AG restated a “neutral” rating and issued a $166.00 price objective (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective for the company. in a research note on Monday, July 17th. Robert W. Baird upgraded shares of McKesson Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. Jefferies Group LLC set a $165.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Leerink Swann upped their target price on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. McKesson Corporation presently has an average rating of “Hold” and a consensus target price of $172.45.
McKesson Corporation Company 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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