Sentry Investments Corp. Boosts Holdings in McKesson Corporation (MCK)

Sentry Investments Corp. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 948,730 shares of the company’s stock after buying an additional 20,500 shares during the period. McKesson Corporation makes up approximately 1.1% of Sentry Investments Corp.’s investment portfolio, making the stock its 18th largest position. Sentry Investments Corp. owned about 0.45% of McKesson Corporation worth $156,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. BlackRock Inc. grew its stake in McKesson Corporation by 2,026.2% during the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Ballentine Partners LLC acquired a new stake in McKesson Corporation during the first quarter worth about $191,000. Parnassus Investments CA grew its stake in McKesson Corporation by 310.0% during the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares in the last quarter. Pzena Investment Management LLC grew its stake in McKesson Corporation by 1,015.0% during the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after acquiring an additional 1,301,803 shares during the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.

In related news, Director M Christine Jacobs sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total transaction of $157,500.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin M. Lampert sold 900 shares of the company’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 disclosure for this sale can be found here. Insiders sold 3,066 shares of company stock valued at $473,627 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

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McKesson Corporation (MCK) opened at 149.88 on Friday. The company has a market cap of $31.51 billion, a price-to-earnings ratio of 6.80 and a beta of 1.16. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $169.29. The firm’s 50-day moving average is $152.20 and its 200 day moving average is $153.01.

McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that McKesson Corporation will post $12.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is presently 6.07%.

A number of research analysts have recently commented on MCK shares. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Wednesday, July 12th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Thursday, May 25th. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 target price for the company in a report on Tuesday, May 23rd. Finally, TheStreet cut shares of McKesson Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $170.91.

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.

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

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