PNC Financial Services Group Inc. Sells 4,895 Shares of McKesson Corporation (MCK)

PNC Financial Services Group Inc. trimmed its stake in McKesson Corporation (NYSE:MCK) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,358 shares of the company’s stock after selling 4,895 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of McKesson Corporation worth $21,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new stake in McKesson Corporation in the second quarter valued at $107,000. American Beacon Advisors Inc. acquired a new stake in McKesson Corporation in the first quarter valued at $100,000. Orrstown Financial Services Inc. increased its holdings in McKesson Corporation by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the period. Archford Capital Strategies LLC increased its holdings in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares during the period. Finally, Tompkins Financial Corp increased its holdings in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 85.16% of the company’s stock.

McKesson Corporation (MCK) opened at 148.37 on Wednesday. The stock’s 50 day moving average is $151.41 and its 200-day moving average is $153.02. The company has a market cap of $31.20 billion, a PE ratio of 6.73 and a beta of 1.16. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the previous year, the firm posted $3.50 EPS. McKesson Corporation’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that McKesson Corporation will post $12.07 EPS for the current fiscal year.

The company 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. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.92%. McKesson Corporation’s payout ratio is presently 6.07%.

TRADEMARK VIOLATION WARNING: “PNC Financial Services Group Inc. Sells 4,895 Shares of McKesson Corporation (MCK)” was originally published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/20/pnc-financial-services-group-inc-sells-4895-shares-of-mckesson-corporation-mck.html.

In other news, Director Marie L/Ca Knowles sold 1,083 shares of McKesson Corporation stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders sold 3,066 shares of company stock worth $473,627 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

A number of research firms recently weighed in on MCK. UBS AG restated a “neutral” rating and issued a $166.00 price objective (up from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Barclays PLC set a $187.00 price objective on McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $175.00 to $178.00 in a report on Tuesday. Finally, Royal Bank Of Canada began coverage on McKesson Corporation in a report on Tuesday. They issued a “sector perform” rating and a $168.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $171.53.

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.

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).

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

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.

Latest News

Leave a Reply