United Services Automobile Association increased its stake in shares of McKesson Corporation (NYSE:MCK) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 235,880 shares of the company’s stock after buying an additional 25,622 shares during the period. United Services Automobile Association owned 0.11% of McKesson Corporation worth $34,972,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of McKesson Corporation during the fourth quarter valued at approximately $268,672,000. WFG Advisors LP increased its position in shares of McKesson Corporation by 949.9% in the fourth quarter. WFG Advisors LP now owns 3,895 shares of the company’s stock valued at $769,000 after buying an additional 3,524 shares during the period. Appaloosa LP acquired a new position in shares of McKesson Corporation during the fourth quarter valued at $38,624,000. Baupost Group LLC MA acquired a new position in shares of McKesson Corporation during the fourth quarter valued at $140,450,000. Finally, Putnam Investments LLC increased its position in shares of McKesson Corporation by 13.9% in the fourth quarter. Putnam Investments LLC now owns 330,676 shares of the company’s stock valued at $46,443,000 after buying an additional 40,276 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (MCK) opened at 165.92 on Friday. The firm has a market cap of $34.99 billion, a PE ratio of 7.30 and a beta of 1.13. The company has a 50-day moving average of $164.46 and a 200-day moving average of $150.61. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $197.91.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.35. McKesson Corporation had a return on equity of 29.99% and a net margin of 2.55%. The firm had revenue of $48.71 billion for the quarter, compared to analyst estimates of $49.48 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. McKesson Corporation’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that McKesson Corporation will post $12.10 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 5th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, June 1st. McKesson Corporation’s dividend payout ratio is presently 4.80%.
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Several equities analysts recently weighed in on MCK shares. TheStreet upgraded shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price target on the stock. in a report on Wednesday, May 10th. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Wednesday, July 12th. Finally, Needham & Company LLC started coverage on shares of McKesson Corporation in a report on Tuesday, April 4th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $171.21.
In other McKesson Corporation news, Chairman John H. Hammergren sold 19,316 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total value of $3,135,179.96. Following the sale, the chairman now owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 404 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total value of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares in the company, valued at approximately $321,541.59. The disclosure for this sale can be found here. Insiders have sold 59,148 shares of company stock worth $9,654,255 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.
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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