355 Shares in McKesson Corporation $MCK Acquired by Welch & Forbes LLC

Welch & Forbes LLC acquired a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 355 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Solstein Capital LLC boosted its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. GFG Capital LLC bought a new stake in McKesson during the 2nd quarter valued at $30,000. Finally, Saudi Central Bank bought a new stake in McKesson during the 1st quarter valued at $34,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Evercore ISI increased their target price on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. TD Cowen increased their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $839.15.

McKesson Trading Up 1.1%

Shares of MCK opened at $820.42 on Tuesday. McKesson Corporation has a 12 month low of $520.20 and a 12 month high of $846.32. The stock has a fifty day moving average price of $744.21 and a 200-day moving average price of $720.04. The firm has a market cap of $102.05 billion, a PE ratio of 32.71, a P/E/G ratio of 1.46 and a beta of 0.52.

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

McKesson Announces Dividend

The company 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 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 (DPR) is 13.08%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 completion of the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Company 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.