Versor Investments LP Purchases 124 Shares of McKesson Corporation $MCK

Versor Investments LP grew its stake in shares of McKesson Corporation (NYSE:MCK) by 26.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 590 shares of the company’s stock after acquiring an additional 124 shares during the quarter. Versor Investments LP’s holdings in McKesson were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MCK. Solstein Capital LLC lifted its position in shares of 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 during the period. Bank of Jackson Hole Trust lifted its position in shares of 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 during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of 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 during the period. GFG Capital LLC bought a new stake in shares of McKesson during the 2nd quarter valued at $30,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson during the 1st quarter valued at $34,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MCK shares. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Evercore ISI lifted their price target on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, UBS Group upped their price objective on McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $839.15.

McKesson Stock Up 2.8%

Shares of MCK opened at $843.19 on Wednesday. McKesson Corporation has a 12-month low of $520.20 and a 12-month high of $846.43. The business has a 50-day simple moving average of $747.47 and a two-hundred day simple moving average of $721.07. The stock has a market cap of $104.88 billion, a PE ratio of 33.62, a PEG 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). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same period in the previous year, the company earned $7.88 EPS. McKesson’s revenue for the quarter was up 23.4% on a year-over-year basis. On average, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio is presently 13.08%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

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.