KG&L Capital Management LLC Acquires 373 Shares of McKesson Corporation $MCK

KG&L Capital Management LLC boosted its position in shares of McKesson Corporation (NYSE:MCK) by 114.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698 shares of the company’s stock after acquiring an additional 373 shares during the period. KG&L Capital Management LLC’s holdings in McKesson were worth $511,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. LVW Advisors LLC raised its position in shares of McKesson by 28.0% during the second quarter. LVW Advisors LLC now owns 676 shares of the company’s stock valued at $495,000 after buying an additional 148 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of McKesson during the second quarter valued at about $43,000. Brown Lisle Cummings Inc. raised its position in shares of McKesson by 535.7% during the second quarter. Brown Lisle Cummings Inc. now owns 89 shares of the company’s stock valued at $65,000 after buying an additional 75 shares during the last quarter. Signaturefd LLC raised its position in McKesson by 24.0% in the second quarter. Signaturefd LLC now owns 5,330 shares of the company’s stock worth $3,906,000 after purchasing an additional 1,031 shares in the last quarter. Finally, ORG Partners LLC raised its position in McKesson by 10.0% in the second quarter. ORG Partners LLC now owns 320 shares of the company’s stock worth $233,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $760.82 on Friday. The firm has a fifty day moving average of $697.79 and a two-hundred day moving average of $699.59. The stock has a market capitalization of $94.63 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.36 and a beta of 0.51. McKesson Corporation has a 52 week low of $479.15 and a 52 week high of $770.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.88 EPS. As a group, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio is presently 13.08%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCK shares. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday. Citigroup increased their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price target on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Bank of America upped their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $829.08.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction 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 sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,560 shares of company stock valued at $30,438,602 in the last quarter. Corporate 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.