PDS Planning Inc Buys 89 Shares of McKesson Corporation $MCK

PDS Planning Inc increased its holdings in McKesson Corporation (NYSE:MCK) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,196 shares of the company’s stock after acquiring an additional 89 shares during the period. PDS Planning Inc’s holdings in McKesson were worth $876,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCK. Nuveen LLC bought a new stake in McKesson in the 1st quarter worth about $475,235,000. Wellington Management Group LLP grew its position in McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after purchasing an additional 418,524 shares in the last quarter. Boston Partners boosted its stake in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after acquiring an additional 365,484 shares during the last quarter. Voya Investment Management LLC boosted its stake in McKesson by 92.3% in the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after acquiring an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in McKesson in the first quarter valued at about $140,742,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MCK shares. Evercore ISI boosted their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. UBS Group upped their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners upped their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Citigroup upped their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $829.08.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $763.89 on Friday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The stock has a market capitalization of $95.01 billion, a PE ratio of 30.46, a P/E/G ratio of 1.37 and a beta of 0.52. The company’s 50 day simple moving average is $707.48 and its two-hundred day simple moving average is $706.09.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is currently 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.