Current Market Buzz: Progressive Corp. (PGR), McKesson Corporation (MCK)

Cornelia Mascio
Aprile 19, 2017

Highbridge Capital Management LLC boosted its position in shares of McKesson Co. (NYSE:MCK) in a research note released on Monday morning. Pegasus Partners Ltd.'s holdings in McKesson were worth $226,000 as of its most recent filing with the SEC.

Nevertheless, it is a common misunderstanding that a greater share price directs towards a larger company where stock price might also twist the definite worth of the organization. Kings Point Capital Management now owns 1,137 shares of the company's stock worth $190,000 after buying an additional 154 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in McKesson by 8.8% in the first quarter. The company presently has an average rating of Hold and a consensus target price of $171.12. Boston Partners increased its stake in shares of McKesson by 3.1% in the third quarter. Motco now owns 825 shares of the company's stock worth $138,000 after buying an additional 120 shares during the last quarter. CWM LLC raised its position in McKesson by 15.4% in the first quarter. The company has market cap of $4.06 billion. CHICAGO TRUST Co NA now owns 9,274 shares of the company's stock worth $1,375,000 after buying an additional 196 shares during the period.

Shares of McKesson Co.

McKesson (NYSE:MCK) traded up 0.58% during midday trading on Monday, reaching $144.03. Dubuque Bank & Trust Company sold 7,093 shares as Mckesson Corp (MCK)'s stock declined 11.35%. The firm shows a 20-Day Simple Moving Average of -1.55% with a 200-Day Simple Moving Average of -9.45%. Vulcan Value Partners LLC now owns 3,461,194 shares of the company's stock worth $486,125,000 after buying an additional 1,775,467 shares in the last quarter. McKesson had a return on equity of 30.05% and a net margin of 0.97%. The business earned $50.13 billion during the quarter, compared to analyst estimates of $50.71 billion. During the same quarter in the prior year, the firm posted $3.18 earnings per share. Finally, State of Alaska Department of Revenue increased its position in McKesson by 6.9% in the third quarter. Equities analysts anticipate that McKesson Co. will post $12.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Wednesday, March 1st were given a $0.28 dividend. The ex-dividend date was Monday, February 27th. McKesson Corporation's payout ratio is 13.25%.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & global trademark & copyright legislation. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/04/19/highbridge-capital-management-llc-acquires-20309-shares-of-mckesson-co-mck-updated.html. The firm has "Buy" rating by Standpoint Research given on Friday, October 28. Leerink Swann set a $155.00 price target on shares of McKesson and gave the company a "hold" rating in a report on Saturday, January 21st.

McKesson Corporation has 212,052,000 shares in issue which have a share price of 136.17 giving McKesson Corporation a market capitalisation of 28.88B United States dollars.

Investors considering a purchase of McKesson Corp (Symbol: MCK) stock, but cautious about paying the going market price of $137.91/share, might benefit from considering selling puts among the alternative strategies at their disposal. The stock gained a consensus recommendation of 2.54 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell.

In other news, Chairman John H. Hammergren sold 100,500 shares of McKesson stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $150.44, for a total transaction of $15,119,220.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

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