QV Investors Inc. Boosts Holdings in McKesson Corporation $MCK

QV Investors Inc. raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,229 shares of the company’s stock after acquiring an additional 20 shares during the quarter. QV Investors Inc.’s holdings in McKesson were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Brighton Jones LLC grew its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of McKesson by 12.5% during the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock worth $2,393,000 after buying an additional 396 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of McKesson by 24.1% during the first quarter. Sequoia Financial Advisors LLC now owns 8,696 shares of the company’s stock worth $5,852,000 after buying an additional 1,688 shares in the last quarter. Perpetual Ltd grew its holdings in shares of McKesson by 24.0% during the first quarter. Perpetual Ltd now owns 2,401 shares of the company’s stock worth $1,616,000 after buying an additional 464 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in shares of McKesson by 19.8% during the first quarter. Transcend Capital Advisors LLC now owns 1,161 shares of the company’s stock worth $781,000 after buying an additional 192 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MCK shares. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. UBS Group lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Bank of America raised their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. TD Cowen boosted their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $834.54.

McKesson Stock Performance

McKesson stock opened at $802.17 on Friday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $807.75. The firm has a 50 day moving average price of $728.97 and a 200 day moving average price of $714.24. The company has a market cap of $99.77 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK) last released 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 during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.88 earnings per share. Sell-side analysts predict 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. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. 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. McKesson’s dividend payout ratio is presently 13.08%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. 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 McKesson stock in a transaction that occurred on Friday, August 8th. The shares were 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 in the company, 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 ninety days, insiders have sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

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.