McKesson Corporation $MCK Shares Acquired by Waterloo Capital L.P.

Waterloo Capital L.P. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 40.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 782 shares of the company’s stock after acquiring an additional 226 shares during the period. Waterloo Capital L.P.’s holdings in McKesson were worth $573,000 as of its most recent SEC filing.

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

McKesson Trading Up 0.4%

Shares of MCK opened at $869.44 on Tuesday. The business’s 50-day moving average price is $791.80 and its 200 day moving average price is $736.10. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $873.45. The stock has a market capitalization of $107.31 billion, a P/E ratio of 34.67, a P/E/G 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 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company 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 business posted $7.07 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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 paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft raised their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. UBS Group upped their price target on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Leerink Partners lifted their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $887.69.

Insider Transactions at McKesson

In other 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 value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by company 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.