Kdi Capital Partners Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Kdi Capital Partners reduced its stake in McKesson Corporation by 18.14% during the most recent quarter end. The investment management company now holds a total of 140,912 shares of McKesson Corporation which is valued at $23.4 Million after selling 31,230 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on May 13, 2016.McKesson Corporation makes up approximately 7.63% of Kdi Capital Partners’s portfolio.

Other Hedge Funds, Including , Ontario Teachers Pension Plan Board reduced its stake in MCK by selling 7,236 shares or 21.52% in the most recent quarter. The Hedge Fund company now holds 26,383 shares of MCK which is valued at $4.4 Million. McKesson Corporation makes up approx 0.05% of Ontario Teachers Pension Plan Board’s portfolio.Comerica Bank reduced its stake in MCK by selling 9,945 shares or 13.59% in the most recent quarter. The Hedge Fund company now holds 63,248 shares of MCK which is valued at $10.5 Million. McKesson Corporation makes up approx 0.10% of Comerica Bank’s portfolio.North Star Asset Management Inc boosted its stake in MCK in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 5,970 shares of McKesson Corporation which is valued at $1 Million. McKesson Corporation makes up approx 0.12% of North Star Asset Management Inc’s portfolio.State Of Wisconsin Investment Board boosted its stake in MCK in the latest quarter, The investment management firm added 13,150 additional shares and now holds a total of 314,708 shares of McKesson Corporation which is valued at $53.1 Million. McKesson Corporation makes up approx 0.21% of State Of Wisconsin Investment Board’s portfolio.Wellington Shields Capital Management reduced its stake in MCK by selling 3,135 shares or 18.37% in the most recent quarter. The Hedge Fund company now holds 13,935 shares of MCK which is valued at $2.4 Million. McKesson Corporation makes up approx 0.40% of Wellington Shields Capital Management’s portfolio.

McKesson Corporation opened for trading at $182.94 and hit $185.5811 on the upside on Wednesday, eventually ending the session at $182.92, with a gain of 0.08% or 0.15 points. The heightened volatility saw the trading volume jump to 21,16,091 shares. Company has a market cap of $41,161 M.

On the company’s financial health, McKesson Corporation reported $2.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.70 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $3.14. The company had revenue of $46678.00 million for the quarter, compared to analysts expectations of $46810.61 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Many Wall Street Analysts have commented on McKesson Corporation. McKesson Corporation was Downgraded by Avondale to ” Mkt Perform” on May 5, 2016. McKesson Corporation was Downgraded by Standpoint Research to ” Hold” on Apr 26, 2016. Avondale Initiated McKesson Corporation on Apr 19, 2016 to “Mkt Outperform”, Price Target of the shares are set at $203.

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals medical supplies and healthcare information technology. The Company operates through two business 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. The Distribution Solutions segment provides pharmaceutical solutions for biotech and pharmaceutical manufacturers and practice management technology clinical support and business solutions to oncology and other specialty practices operating in the community setting. The Technology Solutions segment delivers clinical patient care financial supply chain and strategic management software solutions as well as connectivity outsourcing and other services including remote hosting and managed services to healthcare organizations.

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