MGO One Seven LLC Purchases 40 Shares of McKesson Corporation $MCK

MGO One Seven LLC lifted its position in shares of McKesson Corporation (NYSE:MCKFree Report) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,203 shares of the company’s stock after purchasing an additional 40 shares during the period. MGO One Seven LLC’s holdings in McKesson were worth $3,080,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. CWM LLC raised its position in McKesson by 5.7% in the second quarter. CWM LLC now owns 14,614 shares of the company’s stock worth $10,709,000 after acquiring an additional 792 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in McKesson by 25.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,263 shares of the company’s stock worth $16,321,000 after acquiring an additional 4,468 shares during the period. Concurrent Investment Advisors LLC raised its position in McKesson by 11.9% in the second quarter. Concurrent Investment Advisors LLC now owns 1,987 shares of the company’s stock worth $1,456,000 after acquiring an additional 211 shares during the period. waypoint wealth counsel bought a new stake in McKesson in the second quarter worth about $208,000. Finally, Sivik Global Healthcare LLC raised its position in McKesson by 18.2% in the second quarter. Sivik Global Healthcare LLC now owns 13,000 shares of the company’s stock worth $9,526,000 after acquiring an additional 2,000 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.6%

MCK opened at $782.07 on Wednesday. The firm has a 50-day moving average price of $710.10 and a 200-day moving average price of $707.89. The company has a market capitalization of $97.27 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.39 and a beta of 0.52. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $783.89.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion for 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 was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.88 EPS. On average, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio is presently 13.08%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s 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 completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s 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 of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCK. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Leerink Partners lifted their price objective 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. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Jefferies Financial Group lifted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley lifted their target price on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. One 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $834.54.

Check Out Our Latest Analysis on MCK

About McKesson

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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