McKesson Corporation $MCK Shares Acquired by Brookstone Capital Management

Brookstone Capital Management lifted its position in McKesson Corporation (NYSE:MCK) by 15.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,065 shares of the company’s stock after purchasing an additional 1,377 shares during the quarter. Brookstone Capital Management’s holdings in McKesson were worth $7,376,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Mizuho increased their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Citigroup increased their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners increased their price objective on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 value 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. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 1.1%

Shares of MCK stock opened at $795.93 on Thursday. The company has a market cap of $99.00 billion, a price-to-earnings ratio of 31.74, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The stock has a 50 day simple moving average of $724.00 and a 200-day simple moving average of $711.88. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $797.27.

McKesson (NYSE:MCK) last issued 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 business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the company posted $7.88 earnings per share. On average, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

McKesson Company 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.