Janus Henderson Group PLC Raises Holdings in McKesson Corporation (MCK)
Janus Henderson Group PLC grew its position in McKesson Corporation (NYSE:MCK) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,691 shares of the company’s stock after purchasing an additional 17,899 shares during the period. Janus Henderson Group PLC owned about 0.07% of McKesson Corporation worth $24,139,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of MCK. BlackRock Inc. increased its position in McKesson Corporation by 2,026.2% in the 1st quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after purchasing an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC acquired a new position in McKesson Corporation in the 1st quarter worth about $191,000. Harbour Capital Advisors LLC increased its position in McKesson Corporation by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock worth $6,201,000 after purchasing an additional 1,013,942 shares during the last quarter. Renaissance Technologies LLC acquired a new position in McKesson Corporation in the 2nd quarter worth about $164,688,000. Finally, Kiltearn Partners LLP acquired a new position in McKesson Corporation in the 1st quarter worth about $115,469,000. 85.16% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on the company. UBS AG reaffirmed a “neutral” rating and issued a $166.00 target price (up from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. BidaskClub lowered McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Needham & Company LLC set a $179.00 target price on McKesson Corporation and gave the stock a “buy” rating in a research report on Monday. Jefferies Group LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Thursday, July 27th. Finally, Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price on the stock. in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $172.45.
In related news, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the sale, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,391,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was 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 have sold 952,066 shares of company stock worth $145,736,987 in the last three months. 1.20% of the stock is currently owned by company insiders.
Shares of McKesson Corporation (NYSE MCK) opened at 146.41 on Wednesday. The firm has a 50 day moving average price of $152.00 and a 200-day moving average price of $153.59. The company has a market cap of $30.78 billion, a P/E ratio of 6.64 and a beta of 1.17. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $169.29.
McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the 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 firm had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. During the same period in the previous year, the company posted $3.50 EPS. McKesson Corporation’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that McKesson Corporation will post $12.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.93%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio is currently 6.07%.
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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