King Luther Capital Management Corp Buys 1,936 Shares of McKesson Corporation $MCK

King Luther Capital Management Corp grew its stake in shares of McKesson Corporation (NYSE:MCK) by 6.0% in the second quarter, HoldingsChannel.com reports. The firm owned 33,981 shares of the company’s stock after buying an additional 1,936 shares during the quarter. King Luther Capital Management Corp’s holdings in McKesson were worth $24,901,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC grew its position in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in McKesson during the first quarter worth about $289,000. Lynwood Price Capital Management LP boosted its stake in McKesson by 18.3% during the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock worth $18,906,000 after acquiring an additional 4,000 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after purchasing an additional 1,372 shares during the period. Finally, LPL Financial LLC increased its stake in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK opened at $850.77 on Monday. The firm has a market cap of $105.82 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business has a 50-day simple moving average of $757.54 and a two-hundred day simple moving average of $724.48. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $867.63.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter last year, the firm posted $7.07 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is 10.21%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction 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 of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Bank of America boosted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley raised their price target on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday. Robert W. Baird upped their price target on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report 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 given a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $880.15.

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.