McKesson Corporation $MCK Shares Purchased by Ascent Group LLC

Ascent Group LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 125.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,249 shares of the company’s stock after acquiring an additional 5,150 shares during the quarter. Ascent Group LLC’s holdings in McKesson were worth $6,777,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its position in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares during the period. CVA Family Office LLC increased its position in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after purchasing an additional 15 shares during the period. Palisade Asset Management LLC raised its stake in shares of McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares in the last quarter. SteelPeak Wealth LLC raised its stake in shares of McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares in the last quarter. Finally, Eagle Rock Investment Company LLC raised its stake in shares of McKesson by 0.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock worth $3,229,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley boosted their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Leerink Partners boosted their price objective on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. UBS Group boosted their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $829.08.

Insider Buying and Selling at McKesson

In related 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 transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was 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 the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the company’s 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 transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock worth $30,438,602 over the last three months. 0.08% of the stock is owned by insiders.

McKesson Stock Down 2.7%

Shares of McKesson stock opened at $738.00 on Friday. The stock’s fifty day moving average is $702.60 and its 200-day moving average is $702.96. The firm has a market capitalization of $91.79 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.36 and a beta of 0.52. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $776.14.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for 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 firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period last year, the firm earned $7.88 earnings per share. Analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

McKesson Profile

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.