Monetary Management Group Inc. reduced its holdings in McKesson Corporation (NYSE:MCK) by 31.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,449 shares of the company’s stock after selling 3,895 shares during the quarter. Monetary Management Group Inc.’s holdings in McKesson Corporation were worth $1,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN increased its position in McKesson Corporation by 12.7% in the 2nd quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock valued at $349,017,000 after acquiring an additional 239,358 shares during the period. Loews Corp acquired a new position in McKesson Corporation in the 1st quarter valued at approximately $253,000. Dai Ichi Life Insurance Company Ltd increased its position in McKesson Corporation by 194.3% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock valued at $4,848,000 after acquiring an additional 19,450 shares during the period. Pictet & Cie Europe SA increased its position in McKesson Corporation by 30.0% in the 2nd quarter. Pictet & Cie Europe SA now owns 6,542 shares of the company’s stock valued at $1,076,000 after acquiring an additional 1,510 shares during the period. Finally, HealthInvest Partners AB increased its position in McKesson Corporation by 23.7% in the 2nd quarter. HealthInvest Partners AB now owns 63,100 shares of the company’s stock valued at $10,382,000 after acquiring an additional 12,100 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

In other McKesson Corporation news, CEO John H. Hammergren sold 99,000 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $153.53, for a total transaction of $15,353,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 952,066 shares of company stock worth $145,736,987. Insiders own 1.20% of the company’s stock.

Shares of McKesson Corporation (MCK) traded up 0.13% on Thursday, reaching $153.81. 429,504 shares of the company traded hands. McKesson Corporation has a one year low of $114.53 and a one year high of $169.29. The stock has a market capitalization of $32.34 billion, a P/E ratio of 6.98 and a beta of 1.17. The stock’s 50 day moving average price is $151.26 and its 200-day moving average price is $153.43.

McKesson Corporation (NYSE:MCK) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). The company had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.50 earnings per share. Equities analysts forecast that McKesson Corporation will post $12.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 1st were given a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, August 30th. McKesson Corporation’s payout ratio is presently 6.07%.

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Several equities analysts have issued reports on MCK shares. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target for the company in a research report on Monday, June 12th. UBS AG restated a “neutral” rating and issued a $166.00 price target (up from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Leerink Swann upped their price target on shares of McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research report on Thursday, June 29th. Zacks Investment Research upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. McKesson Corporation presently has a consensus rating of “Hold” and a consensus target price 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.

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

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