Bank of Hawaii boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 101.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,307 shares of the company’s stock after buying an additional 2,670 shares during the period. Bank of Hawaii’s holdings in McKesson Corporation were worth $787,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in shares of McKesson Corporation by 32.1% in the fourth quarter. Bessemer Group Inc. now owns 2,689 shares of the company’s stock worth $377,000 after buying an additional 654 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of McKesson Corporation by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 610,151 shares of the company’s stock worth $85,702,000 after buying an additional 17,211 shares in the last quarter. Marietta Wealth Management LLC bought a new position in shares of McKesson Corporation during the fourth quarter worth approximately $321,000. Flinton Capital Management LLC bought a new position in shares of McKesson Corporation during the fourth quarter worth approximately $6,996,000. Finally, Tyers Asset Management LLC bought a new position in shares of McKesson Corporation during the fourth quarter worth approximately $5,761,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of McKesson Corporation (NYSE:MCK) opened at 168.12 on Tuesday. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $199.27. The stock’s 50 day moving average is $159.48 and its 200 day moving average is $148.28. The company has a market cap of $35.46 billion, a P/E ratio of 7.40 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last posted 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. The firm had revenue of $48.71 billion during the quarter, compared to analysts’ expectations of $49.48 billion. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. On average, analysts predict that McKesson Corporation will post $12.10 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 5th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. McKesson Corporation’s payout ratio is currently 4.80%.
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A number of equities analysts recently commented on MCK shares. TheStreet raised McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Vetr cut 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 McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research raised 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 began coverage on McKesson Corporation in a research report on Tuesday, April 4th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $171.21.
In other McKesson Corporation news, SVP Erin M. Lampert sold 404 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the sale, the senior vice president now directly owns 2,003 shares in the company, valued at approximately $321,541.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John H. Hammergren sold 38,619 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the sale, the chairman now owns 19,309 shares in the company, valued at $3,162,041.84. The disclosure for this sale can be found here. Insiders have sold a total of 59,148 shares of company stock valued at $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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