Delta Investment Management LLC Buys 18 Shares of McKesson Corporation $MCK

Delta Investment Management LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 726 shares of the company’s stock after acquiring an additional 18 shares during the period. Delta Investment Management LLC’s holdings in McKesson were worth $532,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GFG Capital LLC bought a new position in shares of McKesson during the second quarter valued at $30,000. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. Saudi Central Bank bought a new position in shares of McKesson during the first quarter valued at $34,000. Finally, Flaharty Asset Management LLC bought a new position in shares of McKesson during the first quarter valued at $39,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research note on Saturday. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Finally, Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $834.54.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Up 1.2%

NYSE:MCK opened at $802.17 on Monday. The stock has a market capitalization of $99.77 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.44 and a beta of 0.52. The firm has a fifty day simple moving average of $728.97 and a two-hundred day simple moving average of $714.53. McKesson Corporation has a 12 month low of $492.39 and a 12 month high of $807.75.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.88 earnings per share. Equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

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.