Wallington Asset Management adds McKesson Corporation (MCK) to its portfolio

McKesson Corporation (MCK) : Wallington Asset Management added new position in McKesson Corporation during the most recent quarter end. The investment management firm now holds 29,120 shares of McKesson Corporation which is valued at $5,682,477 , the company said in a statement filed on Aug 3, 2016 with the SEC.McKesson Corporation makes up approximately 1.74% of Wallington Asset Management’s portfolio.

Other Hedge Funds, Including , Mutual Of America Capital Management boosted its stake in MCK in the latest quarter, The investment management firm added 935 additional shares and now holds a total of 32,191 shares of McKesson Corporation which is valued at $6,281,752. McKesson Corporation makes up approx 0.13% of Mutual Of America Capital Management’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in MCK in the latest quarter, The investment management firm added 714 additional shares and now holds a total of 34,137 shares of McKesson Corporation which is valued at $6,661,494. McKesson Corporation makes up approx 0.17% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in MCK in the latest quarter, The investment management firm added 957 additional shares and now holds a total of 39,517 shares of McKesson Corporation which is valued at $7,781,688. McKesson Corporation makes up approx 0.78% of Tokio Marine Asset Management Co Ltd’s portfolio.Genesee Valley Trust Co reduced its stake in MCK by selling 191 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 1,623 shares of MCK which is valued at $319,601. McKesson Corporation makes up approx 0.21% of Genesee Valley Trust Co’s portfolio.Rockland Trust Co boosted its stake in MCK in the latest quarter, The investment management firm added 465 additional shares and now holds a total of 45,790 shares of McKesson Corporation which is valued at $9,000,940. McKesson Corporation makes up approx 1.49% of Rockland Trust Co’s portfolio.

McKesson Corporation opened for trading at $194.95 and hit $195.35 on the upside on Monday, eventually ending the session at $195.1, with a gain of 0.23% or 0.44 points. The heightened volatility saw the trading volume jump to 7,68,944 shares. Company has a market cap of $44,034 M.

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 (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.

Leave a Reply

McKesson Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on McKesson Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.