Kane Investment Management Inc. Purchases 452 Shares of McKesson Corporation $MCK

Kane Investment Management Inc. grew its stake in shares of McKesson Corporation (NYSE:MCK) by 24.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,283 shares of the company’s stock after acquiring an additional 452 shares during the period. McKesson comprises 0.9% of Kane Investment Management Inc.’s investment portfolio, making the stock its 29th biggest position. Kane Investment Management Inc.’s holdings in McKesson were worth $1,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Geode Capital Management LLC grew its holdings in shares of McKesson by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after purchasing an additional 112,224 shares in the last quarter. Northern Trust Corp increased its position in shares of McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after acquiring an additional 10,179 shares in the last quarter. Boston Partners increased its stake in McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in McKesson by 9.1% in 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 raised its stake in McKesson by 16.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after purchasing an additional 181,831 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $842.26 on Friday. The stock has a market capitalization of $103.96 billion, a P/E ratio of 33.58, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63. The firm’s 50-day moving average is $773.51 and its two-hundred day moving average is $729.42.

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

McKesson Announces Dividend

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

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Robert W. Baird raised their target price on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. UBS Group lifted their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of McKesson in a research report on Thursday. Finally, Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $887.69.

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.