McKesson Corporation (MCK) Holdings Raised by Profund Advisors LLC

Profund Advisors LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,013 shares of the company’s stock after purchasing an additional 1,182 shares during the period. Profund Advisors LLC’s holdings in McKesson Corporation were worth $1,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of McKesson Corporation by 116.6% in the 1st quarter. First Trust Advisors LP now owns 55,154 shares of the company’s stock valued at $8,177,000 after acquiring an additional 29,695 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of McKesson Corporation by 363.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 27,111 shares of the company’s stock valued at $4,019,000 after acquiring an additional 21,261 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of McKesson Corporation by 2.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 20,334 shares of the company’s stock valued at $3,015,000 after acquiring an additional 558 shares during the last quarter. Boston Partners lifted its stake in shares of McKesson Corporation by 0.4% in the 1st quarter. Boston Partners now owns 1,099,786 shares of the company’s stock valued at $163,054,000 after acquiring an additional 3,880 shares during the last quarter. Finally, HPM Partners LLC bought a new position in shares of McKesson Corporation in the 1st quarter valued at $381,000. Hedge funds and other institutional investors own 85.16% of the company’s stock.

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McKesson Corporation (NYSE:MCK) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the consensus estimate of $2.81 by ($0.35). The firm had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company posted $3.50 earnings per share.

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

In other news, Director M Christine Jacobs sold 1,083 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were 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 can be accessed through the SEC website. Also, SVP Erin M. Lampert sold 900 shares of the company’s 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. Over the last ninety days, insiders have sold 3,066 shares of company stock valued at $473,627. Insiders own 1.20% of the company’s stock.

A number of research analysts have recently commented on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Vetr upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a research note on Thursday, May 25th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research note on Thursday, July 27th. Finally, Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $171.53.

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.

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

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