Hancock Holding Co. Takes Position in McKesson Corporation (MCK)

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.

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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%.

WARNING: “Hancock Holding Co. Takes Position in McKesson Corporation (MCK)” was originally published by WKRB News and is the sole property of of WKRB News. If you are accessing this piece on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The original version of this piece can be viewed at https://www.wkrb13.com/markets/2229927/hancock-holding-co-takes-position-in-mckesson-corporation-mck.html.

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK).

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2229927/hancock-holding-co-takes-position-in-mckesson-corporation-mck.html

Receive News & Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.