McKesson Corporation $MCK Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. increased its stake in shares of McKesson Corporation (NYSE:MCK) by 19.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 416,012 shares of the company’s stock after purchasing an additional 69,185 shares during the quarter. Ameriprise Financial Inc. owned 0.33% of McKesson worth $279,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Northern Trust Corp grew its stake in McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. Boston Partners grew its stake in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in McKesson by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after purchasing an additional 107,638 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in McKesson by 9.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company’s stock worth $628,639,000 after purchasing an additional 95,806 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 2.6%

Shares of NYSE MCK opened at $687.7050 on Friday. The stock has a market cap of $85.54 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89. The business has a 50-day moving average price of $706.69 and a 200 day moving average price of $684.60.

McKesson (NYSE:MCK) last announced 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 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% compared to the same quarter last year. During the same period last year, the company earned $7.88 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson’s payout ratio is currently 11.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley reissued an “overweight” rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Evercore ISI upped their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.10.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the sale, the chief financial officer directly owned 14,028 shares of the company’s stock, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,620 shares of company stock worth $39,712,388. 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.