McKesson Corporation $MCK Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its holdings in McKesson Corporation (NYSE:MCK) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,284 shares of the company’s stock after purchasing an additional 1,364 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of McKesson worth $231,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of MCK. MassMutual Private Wealth & Trust FSB grew its stake in McKesson by 1.6% during the 2nd 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 last quarter. Cardinal Point Capital Management ULC grew its stake in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares during the last quarter. SteelPeak Wealth LLC grew its stake in shares of McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after purchasing an additional 15 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in shares of McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after purchasing an additional 15 shares during the period. Finally, Valmark Advisers Inc. increased its holdings in shares of McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $802.17 on Friday. The firm has a market capitalization of $99.77 billion, a PE ratio of 31.98, a P/E/G ratio of 1.43 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $807.75. The business’s fifty day moving average price is $728.97 and its 200 day moving average price is $713.82.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The stock was 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 $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock worth $16,722,190 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCK shares. Morgan Stanley boosted their target price on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. UBS Group boosted their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Mizuho boosted their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

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.