United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $1.03 Million Holdings in McKesson Corporation $MCK

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in McKesson Corporation (NYSE:MCK) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,400 shares of the company’s stock after purchasing an additional 200 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in McKesson were worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Solstein Capital LLC boosted its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Bank of Jackson Hole Trust lifted its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the period. GFG Capital LLC bought a new position in shares of McKesson in the 2nd quarter worth $30,000. Saudi Central Bank acquired a new stake in shares of McKesson during the first quarter worth $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the first quarter worth $39,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

NYSE MCK opened at $884.76 on Thursday. The business has a 50 day simple moving average of $799.61 and a 200 day simple moving average of $738.51. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The stock has a market cap of $109.20 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 1.46 and a beta of 0.51.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid 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 presently 10.21%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MCK. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Tuesday. Citigroup increased their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. Finally, Leerink Partners lifted their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $887.69.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

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.