Thompson Investment Management Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Thompson Investment Management reduced its stake in McKesson Corporation by 2.04% during the most recent quarter end. The investment management company now holds a total of 34,618 shares of McKesson Corporation which is valued at $6,755,357 after selling 721 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.McKesson Corporation makes up approximately 1.33% of Thompson Investment Management’s portfolio.

Other Hedge Funds, Including , Pillar Pacific Capital Management boosted its stake in MCK in the latest quarter, The investment management firm added 10 additional shares and now holds a total of 2,435 shares of McKesson Corporation which is valued at $475,166. McKesson Corporation makes up approx 0.08% of Pillar Pacific Capital Management’s portfolio.Kanawha Capital Management boosted its stake in MCK in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 7,222 shares of McKesson Corporation which is valued at $1,405,112. McKesson Corporation makes up approx 0.23% of Kanawha Capital Management’s portfolio.Gilman Hill Asset Management boosted its stake in MCK in the latest quarter, The investment management firm added 7 additional shares and now holds a total of 1,657 shares of McKesson Corporation which is valued at $325,716. McKesson Corporation makes up approx 0.13% of Gilman Hill Asset Management’s portfolio. Hollencrest Securities sold out all of its stake in MCK during the most recent quarter. The investment firm sold 3,209 shares of MCK which is valued $618,663.

McKesson Corporation closed down -0.66 points or -0.34% at $194.48 with 9,32,368 shares getting traded on Thursday. Post opening the session at $194.64, the shares hit an intraday low of $193.5 and an intraday high of $195.35 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, McKesson Corporation reported $3.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $3.34. The company had revenue of $49733.00 million for the quarter, compared to analysts expectations of $50333.03 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.14 EPS.

Investors should note that on Jul 26, 2016, McKesson Corporation announced a cash dividend of $0.2800. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on McKesson Corporation. Company shares were Reiterated by Mizuho on Jun 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 174 from a previous price target of $164 .McKesson Corporation was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016. McKesson Corporation was Downgraded by Avondale to ” Mkt Perform” on May 5, 2016.

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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