Universal Beteiligungs und Servicegesellschaft mbH Acquires 11,231 Shares of McKesson Corporation $MCK

Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in McKesson Corporation (NYSE:MCK) by 12.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,546 shares of the company’s stock after purchasing an additional 11,231 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of McKesson worth $75,876,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after acquiring an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC lifted its position in shares of McKesson by 2.2% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after purchasing an additional 14 shares during the period. Cypress Wealth Services LLC increased its position in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares during the period. HBK Sorce Advisory LLC raised its stake in McKesson by 1.4% during the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after buying an additional 16 shares during the last quarter. Finally, Valmark Advisers Inc. grew its holdings in McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after purchasing an additional 17 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCK shares. Bank of America increased their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group upped 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. Weiss Ratings reiterated a “buy (b+)” rating on shares of McKesson in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Price Performance

Shares of MCK traded up $10.94 during mid-day trading on Monday, hitting $853.03. The stock had a trading volume of 31,452 shares, compared to its average volume of 841,518. The firm has a market cap of $105.29 billion, a P/E ratio of 34.02, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The business has a fifty day moving average price of $773.51 and a 200-day moving average price of $729.70.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the previous year, the firm posted $7.07 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal 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 given 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 payout ratio is presently 10.21%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company 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.