TD Waterhouse Canada Inc. Acquires 2,111 Shares of McKesson Corporation $MCK

TD Waterhouse Canada Inc. increased its stake in McKesson Corporation (NYSE:MCK) by 10.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 21,518 shares of the company’s stock after buying an additional 2,111 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in McKesson were worth $15,637,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MCK. Acadian Asset Management LLC boosted its stake in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of McKesson during the first quarter valued at approximately $289,000. Archford Capital Strategies LLC grew its holdings in shares of McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,372 shares during the period. Lynwood Price Capital Management LP increased its stake in shares of McKesson by 18.3% during the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after purchasing an additional 4,000 shares in the last quarter. Finally, LPL Financial LLC grew its position in McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $854.43 on Thursday. The company has a 50 day moving average price of $782.75 and a 200-day moving average price of $732.68. The firm has a market cap of $105.46 billion, a price-to-earnings ratio of 34.07, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $867.63.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm earned $7.07 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Jefferies Financial Group raised their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Morgan Stanley boosted their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, UBS Group increased their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the 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 transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is currently owned by insiders.

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.