Rockefeller Capital Management L.P. Increases Stock Holdings in McKesson Corporation $MCK

Rockefeller Capital Management L.P. raised its position in McKesson Corporation (NYSE:MCK) by 11.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,715 shares of the company’s stock after acquiring an additional 2,743 shares during the period. Rockefeller Capital Management L.P.’s holdings in McKesson were worth $18,844,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Solstein Capital LLC raised 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 buying an additional 24 shares during the period. Bank of Jackson Hole Trust increased its stake in McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the last quarter. GFG Capital LLC purchased a new stake in McKesson in the second quarter valued at $30,000. Saudi Central Bank acquired a new position in shares of McKesson in the 1st quarter valued at $34,000. Finally, Flaharty Asset Management LLC purchased a new position in shares of McKesson during the 1st quarter worth $39,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MCK shares. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Citigroup boosted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Bank of America upped their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Finally, UBS Group upped their price target on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Up 0.7%

NYSE:MCK opened at $861.33 on Wednesday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The company has a fifty day simple moving average of $779.78 and a two-hundred day simple moving average of $731.82. The company has a market cap of $106.31 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion during 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%.McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $7.07 EPS. On average, analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid 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 currently 10.21%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% 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 owned by insiders.

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.