LVM Capital Management Ltd. MI Makes New Investment in McKesson Corporation $MCK

LVM Capital Management Ltd. MI purchased a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 819 shares of the company’s stock, valued at approximately $600,000.

A number of other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its stake in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Northern Trust Corp raised its position in shares of McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares during the period. Boston Partners lifted its holdings in shares of McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in McKesson by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after purchasing an additional 107,638 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in McKesson by 16.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after purchasing an additional 181,831 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCK. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Wells Fargo & Company upped their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Morgan Stanley reiterated an “overweight” rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Wall Street Zen cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Evercore ISI raised their price target on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $725.10.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Down 1.2%

Shares of MCK opened at $711.32 on Friday. The firm has a market capitalization of $88.48 billion, a PE ratio of 28.36, a P/E/G ratio of 1.43 and a beta of 0.51. The firm has a 50-day moving average price of $697.81 and a 200 day moving average price of $693.98. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.88 earnings per share. On average, equities analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson’s payout ratio is 13.08%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.