Cobblestone Capital Advisors LLC NY Buys 340 Shares of McKesson Corporation $MCK

Cobblestone Capital Advisors LLC NY raised its stake in McKesson Corporation (NYSE:MCK) by 34.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,323 shares of the company’s stock after purchasing an additional 340 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in McKesson were worth $969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Solstein Capital LLC increased its position in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. Bank of Jackson Hole Trust increased its position 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 worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position 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 worth $30,000 after acquiring an additional 41 shares in the last quarter. GFG Capital LLC bought a new stake in shares of McKesson during the second quarter worth about $30,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson during the first quarter worth about $34,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

McKesson stock opened at $802.17 on Monday. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $807.75. The stock has a market cap of $99.77 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. The firm’s 50-day simple moving average is $728.97 and its 200 day simple moving average is $714.53.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share 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 analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.88 earnings per share. As a group, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid 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 presently 13.08%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Mizuho boosted their price target on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s 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 owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. Corporate 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.