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.
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