Hancock Holding Co. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the first quarter, Holdings Channel reports. The institutional investor bought 14,098 shares of the company’s stock, valued at approximately $2,090,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orrstown Financial Services Inc. boosted its stake in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares in the last quarter. Welch Group LLC boosted its stake in McKesson Corporation by 22.6% in the first quarter. Welch Group LLC now owns 948 shares of the company’s stock valued at $141,000 after buying an additional 175 shares in the last quarter. Tompkins Financial Corp boosted its stake in McKesson Corporation by 8.8% in the first quarter. Tompkins Financial Corp now owns 962 shares of the company’s stock valued at $151,000 after buying an additional 78 shares in the last quarter. Independent Advisor Alliance acquired a new stake in McKesson Corporation during the fourth quarter valued at approximately $161,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in McKesson Corporation by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,385 shares of the company’s stock valued at $205,000 after buying an additional 45 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.
McKesson Corporation (NYSE:MCK) opened at 159.83 on Friday. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $199.43. The stock has a 50 day moving average price of $153.24 and a 200-day moving average price of $146.90. The firm has a market capitalization of $33.71 billion, a PE ratio of 7.03 and a beta of 1.15.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 18th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $49.48 billion. During the same period last year, the company posted $2.44 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts forecast that McKesson Corporation will post $12.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. McKesson Corporation’s dividend payout ratio (DPR) is presently 4.80%.
MCK has been the subject of several recent analyst reports. Credit Suisse Group reissued a “sell” rating on shares of McKesson Corporation in a report on Friday, March 3rd. Citigroup Inc. raised their price target on McKesson Corporation from $169.00 to $175.00 and gave the company a “buy” rating in a report on Monday, March 6th. Needham & Company LLC initiated coverage on McKesson Corporation in a report on Tuesday, April 4th. They issued a “hold” rating for the company. Vetr cut McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 price target for the company. in a report on Tuesday, April 11th. Finally, Evercore ISI reissued an “outperform” rating and issued a $166.00 price target on shares of McKesson Corporation in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. McKesson Corporation currently has an average rating of “Hold” and an average target price of $170.89.
In other news, SVP Erin M. Lampert sold 809 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total transaction of $129,973.94. Following the completion of the sale, the senior vice president now owns 59 shares in the company, valued at approximately $9,478.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin M. Lampert sold 404 shares of the 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 sale, the senior vice president now owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The disclosure for this sale can be found here. Insiders have sold a total of 159,648 shares of company stock valued at $24,773,475 in the last quarter. Insiders own 1.15% of the company’s stock.
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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