Boyd Watterson Asset Management LLC OH Buys 32 Shares of McKesson Corporation $MCK

Boyd Watterson Asset Management LLC OH raised its stake in shares of McKesson Corporation (NYSE:MCK) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 652 shares of the company’s stock after purchasing an additional 32 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in McKesson were worth $478,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MCK. Brighton Jones LLC raised its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in McKesson by 20.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,068 shares of the company’s stock worth $14,075,000 after purchasing an additional 3,542 shares during the last quarter. Avidian Wealth Enterprises LLC bought a new position in McKesson during the 1st quarter worth $228,000. Kendall Capital Management grew its holdings in McKesson by 4.1% during the 1st quarter. Kendall Capital Management now owns 3,144 shares of the company’s stock worth $2,116,000 after acquiring an additional 125 shares during the period. Finally, Red Cedar Investment Management LLC acquired a new stake in McKesson during the 1st quarter worth about $867,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on 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 trade represents a 33.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $811.69 on Tuesday. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $811.86. The stock has a market cap of $100.96 billion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.44 and a beta of 0.52. The firm’s 50-day simple moving average is $731.79 and its 200 day simple moving average is $715.51.

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

McKesson Increases Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their price target on McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group increased their price target on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Morgan Stanley increased their price target on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $839.15.

About McKesson

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.