McKesson Corporation $MCK Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 17.7% during the second quarter, HoldingsChannel reports. The firm owned 13,854 shares of the company’s stock after purchasing an additional 2,087 shares during the quarter. Sterling Capital Management LLC’s holdings in McKesson were worth $10,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares during the period. Cardinal Point Capital Management ULC increased its stake in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after acquiring an additional 15 shares during the period. Cypress Wealth Services LLC boosted its position in shares of McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after acquiring an additional 15 shares during the last quarter. Finally, HBK Sorce Advisory LLC grew its holdings in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

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 stock was sold at an average price of $705.63, for a total transaction 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. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

McKesson Trading Up 1.6%

NYSE MCK opened at $857.36 on Friday. The company’s fifty day simple moving average is $754.25 and its 200-day simple moving average is $722.89. The stock has a market cap of $106.64 billion, a P/E ratio of 34.19, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $863.32.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the previous year, the firm posted $7.07 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday. Jefferies Financial Group raised their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Finally, Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $880.15.

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.