Boyd Watterson Asset Management LLC OH purchased a new stake in McKesson Co. (NYSE:MCK – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 627 shares of the company's stock, valued at approximately $205,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Covestor Ltd lifted its holdings in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company's stock worth $25,000 after buying an additional 34 shares during the last quarter. Riverview Trust Co bought a new position in McKesson during the 1st quarter worth approximately $28,000. Core Alternative Capital lifted its holdings in McKesson by 1,257.1% during the 1st quarter. Core Alternative Capital now owns 95 shares of the company's stock worth $29,000 after buying an additional 88 shares during the last quarter. Lansing Street Advisors bought a new position in McKesson during the 1st quarter worth approximately $31,000. Finally, Cornerstone Advisory LLC bought a new position in McKesson during the 4th quarter worth approximately $25,000. Hedge funds and other institutional investors own 86.43% of the company's stock.
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Insider Transactions at McKesson
In other news, EVP Thomas L. Rodgers sold 1,300 shares of the firm's stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now owns 2,544 shares of the company's stock, valued at $934,182.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Thomas L. Rodgers sold 1,300 shares of the firm's stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now owns 2,544 shares of the company's stock, valued at $934,182.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lori A. Schechter sold 7,500 shares of the firm's stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the sale, the executive vice president now directly owns 11,678 shares of the company's stock, valued at approximately $4,016,531.32. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
McKesson Stock Performance
Shares of MCK stock traded down $0.32 during mid-day trading on Monday, hitting $339.55. 4,083 shares of the stock traded hands, compared to its average volume of 1,122,556. McKesson Co. has a twelve month low of $193.89 and a twelve month high of $375.23. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 1.38 and a beta of 0.61. The company's 50-day simple moving average is $353.53 and its 200-day simple moving average is $331.32.
McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $5.83 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.52. The business had revenue of $67.15 billion during the quarter, compared to analyst estimates of $63.87 billion. McKesson had a negative return on equity of 350.22% and a net margin of 0.52%. Analysts forecast that McKesson Co. will post 24.42 earnings per share for the current year.
McKesson Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, August 31st. This is a boost from McKesson's previous quarterly dividend of $0.47. McKesson's dividend payout ratio (DPR) is 22.83%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft increased their target price on McKesson from $378.00 to $409.00 in a report on Monday, August 8th. Robert W. Baird increased their price target on McKesson from $386.00 to $400.00 and gave the stock an "outperform" rating in a research report on Thursday, August 4th. Cowen increased their price target on McKesson to $384.00 in a research report on Tuesday, August 9th. Argus increased their price target on McKesson from $370.00 to $430.00 and gave the stock a "buy" rating in a research report on Monday, September 12th. Finally, Morgan Stanley increased their price target on McKesson from $370.00 to $403.00 and gave the stock an "overweight" rating in a research report on Monday, August 22nd. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $352.46.
McKesson Profile
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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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